Because BackBeatMusic

question 101

True/False

Because BackBeatMusic.com's current assets are less than its current liabilities,the company has positive working capital.

---

Definitions:

Income Statement

Financial record of a company’s revenues, expenses, and profits over a period of time.

Balance Sheet

Statement of a company’s financial position—what it owns and claims against its assets—at a particular point in time.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Accounting Equation

Formula that states that assets must always equal the sum of liabilities and owners’ equity.