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4 years ago

In the accounting equation, assets are equal to which two things?

Business

1 answer:

ivolga24 [154]4 years ago

4 0

The correct answer would be, Liabilities plus owner's equity.

Explanation:

In the accounting equation, assets are equal to Liabilities plus the owner's equity.

Assets are the things which are valuable for a person. It can be property, land, equipment, resources, technology, humans, etc.

In accounting, when we make financial statements for a specific period of time, there are always two sides of the statement in a balance sheet that need to be balanced. One side of the sheet contains assets minus liabilities, which is equal to the other side, that is owner's equity.

So if we need to see the value of assets alone, it will be equal to Liabilities plus the equity of the owner.

Learn more about assets and liabilities at:

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How much is 1 million british pounds worth in us dollars?

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4 years ago

What type of economy is an economic system in which private businesses can operate freely with minimal state control?Henry lives

Sonja [21]

Answer:

Private business freedom : Capitalist or Market Economy. Henry is more likely in Socialist Economy.

Explanation:

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Henry's country which gives incentives to reallocate production choice 'what to produce' (from consumer goods to military goods). He has more efficient idea for work implementation, but lacks incentive (probably due to lack of creative & innovative ideas reward). These features characterise a Socialist Economy, in which government or state has supreme power over central economic decisions. Social welfare is considered priority, government monopoly curbs innovation & creativity, there is less consumer choice, sovereignity.

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4 years ago

Clover Hardware sold a range of products. A few weeks ago, orders arrived for the garden center and outdoor living areas. 500 gr

masya89 [10]

Answer:

COGS= $15,000

Explanation:

Giving the following information:

Purchase= 500 grills

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<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

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