On the Balance Sheet, Total Assets Must Always Equal Total

question 46

True/False

On the balance sheet, total assets must always equal total liabilities. The amount remaining is what is used to finance the firm and includes equity and long-term debt.

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Definitions:

Generation X

Includes the 55 million people born between 1965 and 1980. Also called the baby bust.

Millennials

A demographic cohort following Generation X, generally born between the early 1980s and the mid-1990s to early 2000s.

Revolution Generation

A concept or term sometimes used to describe a cohort of individuals who are perceived as being involved in making significant societal changes or technological advances.

Baby Bust

A period marked by a significant decrease in birth rates.