Use the Figure Above to Answer the Following Questions

question 2

Multiple Choice

Use the figure above to answer the following questions.
-Sphincters

• A) are circular muscles.
• B) prevent backflow.
• C) are smooth muscles.
• D) are found at the entrance and exit of the stomach.
• E) include all of these.

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Definitions:

Liability

Legal obligations related to finances that a business incurs throughout its operational processes.

Accounting Equation

The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Owner's Equity.

Cash

Money in the form of currency that can include bills, coins, and balances in bank accounts that are readily available for use.

Owner's Capital Account

A financial record that represents the owner's invested capital plus the total earnings minus the withdrawals made by the owner.