Which statement regarding the liabilities and owners’ equity section of balance sheet is False?
A: Payment of Dividend Payable eliminates both the assets and the owners’ equity.
B: Liabilities are debts or obligations that must be discharged in money or services in the future.
C: Owners’ equity is a residual claim to the remaining assets after discharge of debts.
D: Balance sheet of corporations should separate Capital Stock and Retained Earnings
A: Payment of Dividend Payable eliminates both the assets and the owners’ equity.
B: Liabilities are debts or obligations that must be discharged in money or services in the future.
C: Owners’ equity is a residual claim to the remaining assets after discharge of debts.
D: Balance sheet of corporations should separate Capital Stock and Retained Earnings
举一反三
- 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
- The ________ shows the assets, liabilities, and owners' equity of a firm, at a specific point in time. A: income statement B: balance sheet C: statement of cash flows D: trial balance
- 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
- Assets= liabilities + owners’ equity
- The statement of changes in owners’ equity contains assets, liabilities and capital. ( )