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Which of the following are Assets, Liabilities, EquityAccounts PayableCommon StockBonds PayableFurniture and FixturesInventoryInterest PayableDividentsAdditional paid-in-capitalPatents and copyrightsShort-term investments

Question

Which of the following are Assets, Liabilities, Equity

Accounts Payable
Common Stock
Bonds Payable
Furniture and Fixtures
Inventory
Interest Payable
Dividents
Additional paid-in-capital
Patents and copyrights
Short-term investments

check_circleAnswer
Step 1

Assets are the resources available from which a business is expected to derive future economic benefits. Example Cash, land and building, Accounts Receivable

Liabilities are the obligations which would result in payment of resources of the enterprise to other parties. Examples are Accounts Payable, Bank loans

Equity comprises of the amount contributed and owned by the owner’s of the business in the form of stock, retained earnings .Withdrawal of capital, dividends paid decrease Owner's equity

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Business

Accounting

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