Chapter One Test

Complete this accounting equation

Assets = Liabilities + __________

(click one choice below and then hit the button to test your choice.)

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Payables

Owner's liabilities

Owner's equity

Stocks and bonds

 

 

Which of these are commonly known as assets? 

(Select all that apply.)

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Cash

Cash on hand

Dividends payable

Owner's net interest in business

Business property like cars and tractors