Using an invoice, rather than the seller's opinion of the value, to document the value of equipment, is based on the _______ principle. ANS:objective evidence In a balance sheet, prepared according to the T-account form, the total liabilities and owners' equity amounts to $2,875,000. Therefore, in a balance sheet, prepared according to a reporting from, the total assets will be equal to: ANS:$2,875,000 A company has a cash inflow of $300,000 and a cash outflow of $400,000. Therefore, its cas...

Using an invoice, rather than the seller's opinion of the value, to document the value of equipment, is based on the _______ principle. ANS:objective evidence In a balance sheet, prepared according to the T-account form, the total liabilities and owners' equity amounts to $2,875,000. Therefore, in a balance sheet, prepared according to a reporting from, the total assets will be equal to: ANS:$2,875,000 A company has a cash inflow of $300,000 and a cash outflow of $400,000. Therefore, its cas...