Which of the Following Would Appear in the Equity Section

question 53

Multiple Choice

Which of the following would appear in the equity section of the statement of financial position?

• A)Loan from ABC Bank.
• B)Loan to family member.
• C)Bank overdraft.
• D)Drawings by the owner.

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Definitions:

Locard's Exchange Principle

A principle in forensic science that states every contact leaves a trace, meaning a criminal will always bring something into the crime scene and leave with something from it.

Cellulose

A complex carbohydrate or polysaccharide that forms the main structure of plant cell walls and is used in the production of paper, textiles, and various bioproducts.

Sheep Wool

The soft, thick, curly hair that grows on sheep, used extensively in textiles for clothing, blankets, and other products.

Blueprint

A detailed technical drawing or plan for designing buildings, machines, or any structure, traditionally rendered in white lines on a blue background.