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Question 14 Which of the following is not a true statement about the accounting equation...

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Question 14 Which of the following is not a true statement about the accounting equation and its elements? O The accounting equation is Assets+Liabilities-Owner's Equity O Assets are the resources a business possesses. Liabilities represent debts of a business. Examples of assets are cash, accounts receivable, supplies and equipment. O Owners' equity represents the rights of the owners to the assets

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