The balance sheet equation can be represented by:
a. Assets = Liabilities + Stockholders' Equity.
b. Assets + Liabilities = Stockholders' Equity
c. Net Assets + Liabilities = Stockholders' Equity
d. all of the above
true or false
1. The CPA and not management is responsible for the content and preparation of the financial statements of an organization
2. When a company prepares and issues financial statements they are required to follow a set of principles that are called Accounting Rules and Principles (ARB)