Owners' equity includes financial obligations to short-term creditors and amounts owed to suppliers to goods and services purchased on credit.

Name: Owners' equity includes financial obligations to short-term creditors and amounts owed to suppliers to goods and services purchased on credit.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Owners' equity includes the owners' contributions to the organization along with income earned by the organization and retained to finance continued growth and development.

Owners' Equity Includes Financial Obligations to Short-Term Creditors and Amounts