__________ is/are the things of value that a firm owns, __________ include the firm's debts and obligations, and __________ is/are the difference between the assets and liabilities.
A) Owner's equity, assets, liabilities
B) Assets, liabilities, owner's equity
C) Owner's equity, liabilities, assets
D) Assets, owner's equity, liabilities
E) Liabilities, assets, owner's equity

Question

Quizplus · Accepted Answer

Assets are what a company owns, liabilities are the company's debts, and owner's equity represents the owner's claim after debts are paid.

__________ Is/are the Things of Value That a Firm Owns