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Fundamental Accounting Principles Study Set 5
Quiz 1: Accounting in Business
An Owner's Investment in a Business Always Creates an Asset
Question 56
True False
An owner's investment in a business always creates an asset (cash), a liability (note payable), and owner's equity (investment.)
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Q 57
Return on assets is often stated in ratio form as the amount of average total assets divided by income.
Q 58
Return on assets is also known as return on investment.
Q 59
Return on assets is useful to decision makers for evaluating management, analyzing and forecasting profits, and in planning activities.
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