On a Balance Sheet,total Assets Must Always Equal the Sum

question 77

True/False

On a balance sheet,total assets must always equal the sum of liabilities and owners' equity.

---

Definitions:

Burden Of Proof

The obligation to prove one's assertion or claim in a legal dispute.

Negligence Per Se

A legal doctrine where an act is considered negligent because it violates a statute or regulation that is designed to protect the public.

Res Ipsa Loquitur

A legal doctrine that allows an inference of negligence to be drawn from the very nature of an accident or injury, in the absence of direct evidence on how the defendant behaved.

Proximate Cause

A legal concept that determines whether the harm or damage sustained by an individual is directly related to an event or action, playing a significant role in determining liability.