Increases in Owner's Equity Are Entered as Credits

question 39

True/False

Increases in owner's equity are entered as credits.

Identify the criteria for evaluating socially responsible corporate behavior.

Recognize the role of CSR audits in assessing corporate social performance.

Understand the mechanisms through which CSR can lead to improved financial performance.

Understand the role and benefits of mutual funds, including professional management and diversification.

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Definitions:

Owner's Capital

The amount of money and other assets owned by a business's owner after all liabilities have been deducted; also known as owner's equity.

Accounts Receivable

Amounts due from clients to a business for goods or services that have been supplied or rendered but haven't been settled.

Accounts Payable

Amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.

Supplies

Materials and items consumed or used in the day-to-day operations of a business but not directly tied to the products manufactured.