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If owner's equity and liabilities increased during the period, then assets must also have increased. (Points : 3) a True b False
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Asked 5/4/2013 6:27:29 PM
Updated 8/3/2015 12:01:21 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Unflagged by jeifunk [8/3/2015 12:01:18 PM], Flagged by jeifunk [8/3/2015 12:01:21 PM]
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Original conversation
User: If owner's equity and liabilities increased during the period, then assets must also have increased. (Points : 3) a True b False

Weegy: The accounting equation is expressed as: A. Assets = liabilities + owner's equity.
Expert answered|torngal68|Points 0|

Question
Asked 5/4/2013 6:27:29 PM
Updated 8/3/2015 12:01:21 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Unflagged by jeifunk [8/3/2015 12:01:18 PM], Flagged by jeifunk [8/3/2015 12:01:21 PM]
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If owner's equity and liabilities increased during the period, then assets must also have increased. TRUE
Added 8/3/2015 8:00:10 AM
This answer has been confirmed as correct and helpful.
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Questions asked by the same visitor
The trial balance (Points : 3) a shows the current date. b shows only debit balances. c shows only credit balances. d lists only accounts that are used to prepare the balance sheet
Weegy: The answer is D. List of accounts that are used to prepare the balance sheet (More)
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Expert Answered
Updated 8/3/2015 6:27:32 AM
1 Answer/Comment
The trial balance shows the current date.
Added 8/3/2015 6:27:31 AM
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [8/3/2015 7:57:59 AM]
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