The Total Amount of Assets a Business Possesses May or May

question 107

True/False

The total amount of assets a business possesses may or may not be equal to the total of liabilities and owner's equity of the business.

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Definitions:

Facilities

Physical locations like factories, warehouses, and distribution centers involved in the production, storage, and distribution of goods in a supply chain.

Online Retailer

A business that sells goods or services over the internet directly to consumers.

Bricks And Mortar

Traditional physical retail stores, as opposed to online or virtual stores.

Physical Products

Tangible items or goods that are manufactured, sold, and used in commerce, as opposed to digital or virtual products.