Economics · Accounting Principles
Which of the following statements is true in the context of a balance sheet?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Losses result in an increase in owner's equity.
- 2Assets = Liabilities + Owner's equity is always true.✓
- 3Outsiders' claim against business is a residual claim.
- 4An increase in assets always results in an increase in owner's equity.
Correct answer
Assets = Liabilities + Owner's equity is always true.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Accounting Principles MCQs →Want more practice questions on Accounting Principles?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Accounting Principles