On the Balance Sheet, Total Assets Must Always Equal Total

question 13

True/False

On the balance sheet, total assets must always equal total liabilities and equity.

---

Definitions:

Marginal Tax

The tax rate applicable to the last unit of currency earned, indicating the rate at which additional income is taxed.

Tax Rate

The percentage at which income or corporate profits are taxed by the government.

Book Values

The net value of a company's assets as recorded on the balance sheet, calculated by subtracting liabilities from the total assets.

Market Values

The valuation at which an asset could be bought or sold in a current market, regardless of its original cost or book value.