Accounting Equation

Cash is a ....

• Asset

• Liability

• Equity

• Expense

Accounts payable is a ​ (a)  

• Liability
• Owner Equity
• Asset

In the Accounting Equation: What you​ (a)   is equal to what you ​ (b)  

• Own
• Owe
• See
• think

any "Payable" Account is

What a company owns is referred to Owners

The money value of a property or of an interest in property in excess of any claims or liens (as mortgage indebtedness)

• Equity

• Depreciation

• Income

• Revenue

​ (a)   include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued ...

• Liability
• Asset
• Equity

What we "Owe' to are share holders/ company is called ​ (a)  

• Owners Equity
• Liabilities
• Assets

The Balance sheet must "always" balance

• True

• False

When a customer purchases a product and owes the company money, what is that called?​ (a)  

• Accounts Receivable
• Accounts Payable
• debt
• supplies