Quiz 2: Analyzing Business Transactions
If Assets Are $17,000 and Owner's Equity Is $10,000,liabilities Are
If assets are $17,000 and owner's equity is $10,000,liabilities are ___________________.
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When a business pays cash for salaries,assets decrease and expenses ___________________.
Funds taken from the business by the owner for personal use are called ___________________.
The statement of ____________________ reports the changes that have occurred in the owner's financial interest during the reporting period.
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