Start learning →

Put plainly, everything a company owns must equal everything it owes to lenders and to:

AThe suppliers
BThe owners
CThe customers
DThe auditors
Answer & Solution
Correct answer: B. The owners
1. Two groups have claims. 2. Lenders are the first. 3. The second group is the owners. _Source: OpenStax Principles of Financial Accounting, Chapter 3, Analyzing and Recording Transactions._
Practise this question with Quill — ICAG (Ghana) →

Keep practising Double Entry Bookkeeping

Browse all Double Entry Bookkeeping questions for ICAG (Ghana), or explore more Accounting topics.

Start a Double Entry Bookkeeping lesson →
Related questions
Bookkeeping bingoType the numberSort the accounting wordsLeft or rightSlice the accounting wordsRun the bookkeeping gatesPop the accounting principlesCatch the books and records