Identify the best definition. Talking about the balance sheet , the equation "assets - liabilities = equity" Select one: a. Is never correct b. Is correct at the year end c. Is sometimes correct d. Is correct after each transaction is finished

If your ____, your net worth on the balance sheet would have increased from one period to the next. Group of answer choices none of these liabilities increased and assets remained constant liabilities increased and assets decreased income increased assets increased and liabilities remain constant

Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar in percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with sales. Assume the firm is already using capital assets at full capacity. Cash Accounts receivable. Inventory Current assets Capital assets Assets Total assets $9 15 10 34 34 $68 Balance Sheet (in $ millions) Liabilities and Shareholders' Equity Accounts payable Accrued vages Accrued taxes Current liabilities. Long-term debt Common stock Retained earnings Total liabilities and shareholders' equity $9 8 7 24 10 15 19 $68 The firm has an aftertax profit margin of 8 percent and a dividend payout ratio of 40 percent. a. If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not round intermediate calculations. Enter the answer in millions. Round the final…

1) Which of the following options is correct in relation to accounting equation? Select one: a. Assets + Liabilities= Equity b. Assets + Equity = Liabilities c. None of the options d. Assets= Liabilities + Equity