The owner's equity refers to the remaining equity held by the owners after deducting liabilities of corporate assets.

Identify which of the followingadjustments to after-tax operating income is used to approximate cash income. A: expensing research and development costs B: using LIFO valuation C: deducting interest payable D: using taxes paid rather than tax expense

Which of the following statement related to the three elements in a balance sheet is not true? A: Liabilities= Assets + Owners’ equity B: Assets refer to the resources controlled by the firm C: Liabilities refer to the amounts owed to lenders and other creditors D: Owner’s equity refers to the residual interest in the net assets of an entity that remains after deducting its liabilities

Which of the following statement related to the three elements in a balance sheet is not true? A: A. Assets refer to the resources controlled by the firm B: B. Liabilities refer to the amounts owed to lenders and other creditors C: C. Owner’s equity refers to the residual interest in the net assets of an entity that remains after deducting its liabilities D: D. Liabilities= Assets + Owners’ equity