Lesson No. 5 – Financial Accounting Course 2019 – Accounting Equation Welcome to your Lesson No. 5 - Financial Accounting Course 2019 - Accounting Equation Name eMail Mobile Which of the following is “TRUE”? Assets + Liabilities = Capital Capital – Liabilities = Assets Assets = Liabilities + Owner's Equity Owner's Equity = Capital + Liabilities The properties and possessions of the business is known as __________ . Liabilities Capital Assets Owner's Equity The debts and obligations of the business is known as __________ . Liabilities Capital Assets Owner's Equity Which of the following is/are NOT the example of intangible assets? Copyright Goodwill Patent Land An Asset that is NOT physical in nature is called _________. Intangible Asset Liquid Asset Current Asset Fixed Asset Leave a Reply Cancel reply Save my name, email, and website in this browser for the next time I comment.