Agrowe2005idn
Answered

Find the best answers to your questions with the help of IDNLearn.com's expert contributors. Discover in-depth answers to your questions from our community of experienced professionals.


Which statement is true about the total assets and the total liabilities?

O The total of the assets and the liabilities are the same.
O The total of the assets is greater than the total of the liabilities.
The total of the assets is less than the total of the liabilities.
O The total of the assets cannot be compared to the total of the liabilities.
Mark this and retum

Sagot :

Samawatiidn

Answer:

O The total of the assets is greater than the total of the liabilities.

Explanation:

Assets are valuables that a person or business owns. Liabilities are the debts that a business or individuals owe to others. As per the accounting equation formula, the total assets are equal to the total of liabilities and equity. It means that assets are financed by equity, which is the owners' contribution to the business and debts from third parties. Therefore, the total of assets should be greater than the components of liabilities.

Divorcedspidermanidn

Answer: B. The total of the assets is greater than the total of the liabilities.

Explanation:

View image Divorcedspiderman
We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Discover the answers you need at IDNLearn.com. Thank you for visiting, and we hope to see you again for more solutions.