The Total of Amount of Assets That a Business Possesses

question 21

True/False

The total of amount of assets that a business possesses, may or may not equal the total of liabilities and equity of the business.

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Definitions:

Conglomerate

A coarse-grained sedimentary rock composed of rounded clasts bonded together by a matrix of finer particles and cement.

Breccia

A coarse-grained sedimentary rock composed of angular fragments, usually formed at a fault zone or by volcanic activity.

Sandstone

A sedimentary rock composed mainly of sand-sized mineral particles or rock fragments, often used in building and construction.

Sedimentary Clasts

Fragments or grains of rock or mineral that have been broken from a pre-existing rock and transported, eventually being deposited as sedimentary rock.