If the Assets Owned by a Business Total $50,000 and Liabilities

question 71

True/False

If the assets owned by a business total $50,000 and liabilities total $30,000, then owner's equity totals $80,000.

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Definitions:

Sternberg's

refers to Sternberg's Triarchic Theory of Intelligence, which posits three main components of intelligence: analytical, creative, and practical.

Triangular Theory

A theory that describes love in terms of three components: intimacy, passion, and commitment, positing that different combinations lead to different types of love.

Sternberg's

Pertains to theories developed by psychologist Robert Sternberg, notably his Triarchic Theory of Intelligence.

Intimacy

A tight-knit, intimate bond that is typically characterized by affection or love, shared between an individual and another person or collective.