What distinguishes liabilities from equity?
What will be an ideal response?
Liabilities are creditors' claims on assets. They reflect obligations to transfer assets or provide products or services to others in a future outflow of resources. Equity is owners' claims to assets. It includes the investments by the stockholders, less dividends paid to stockholders, and what the company earns on the stockholders' behalf. Equity is also called net assets or residual interest.
You might also like to view...
Data processing does not involve
a. data control b. computer operations c. system maintenance d. data conversion
Product innovation is the development and introduction of a brand-new product or service or the improvement of an existing product or service achieved through ______.
a. design changes b. increase in time to manufacture c. increase in time to order supplies d. increase in time to inspect quality
Coding is the application of reasoning to understand the data that have been gathered.
Answer the following statement true (T) or false (F)
Criterion contamination occurs when differentsupervisors have different and inconsistent ratings of an employee's performance.
Answer the following statement true (T) or false (F)