True False The current ratio is found by dividing current assets by current liabilities. (a) True (b) False Assets must always equal liabilities plus equity. A) True. B) False.
Using the accounting equation, if you have $2,000 in liabilities and $4,400 in owner's equity, what is the value of assets? Is a money market account viewed as a fixed asset or a current asset? If assets are 420,000, and ll...