agrowe2005
Answered

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Which statement is true about the total assets and the total liabilities?

O The total of the assets and the liabilities are the same.
O The total of the assets is greater than the total of the liabilities.
The total of the assets is less than the total of the liabilities.
O The total of the assets cannot be compared to the total of the liabilities.
Mark this and retum

Sagot :

Samawati

Answer:

O The total of the assets is greater than the total of the liabilities.

Explanation:

Assets are valuables that a person or business owns. Liabilities are the debts that a business or individuals owe to others. As per the accounting equation formula, the total assets are equal to the total of liabilities and equity. It means that assets are financed by equity, which is the owners' contribution to the business and debts from third parties. Therefore, the total of assets should be greater than the components of liabilities.

divorcedspiderman

Answer: B. The total of the assets is greater than the total of the liabilities.

Explanation:

View image divorcedspiderman
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