6 Questions
If a company's assets are $100,000 and its liabilities are $50,000, what is its owner's equity?
$50,000
Which of the following equations represents the relationship between assets, liabilities, and owner's equity?
Assets = Liabilities + Owner's Equity
What does SWOT stand for in SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
What is the result of subtracting liabilities from assets?
Assets
Which of the following best describes the purpose of SWOT analysis?
To identify internal and external factors that may impact the business
Which part of SWOT analysis focuses on factors that are favorable to achieving business objectives?
Strengths
Test your knowledge of accounting equations with this quiz! Learn about the relationship between assets, liabilities, and owner's equity, and find out how to calculate owner's equity based on given financial information.
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