5. Which of the following statements is not true? a. If total assets decreased by P300,000 during the period and owner's equity decreased by P 200, liabilities decreased by P100,000 for the period. b. If total assets increased by P 450,000 for the period and liabilities decreased by P 200.0 owner's equity increased by P650,000 c. If the total assets decreased by P 500,000 curing a specific perice and owner's equity decreased 300.000 during the same per of the period's change in total liabilitics was a P 800.000 decrease. d. If the assets owned by a company were P 800,000 and owners equity localled P 350,000 fur the pcriod, labili pes are P450.000

5. Which of the following statements is not true? a. If total assets decreased by P300,000 during the period and owner's equity decreased by P 200, liabilities decreased by P100,000 for the period. b. If total assets increased by P 450,000 for the period and liabilities decreased by P 200.0 owner's equity increased by P650,000 c. If the total assets decreased by P 500,000 curing a specific perice and owner's equity decreased 300.000 during the same per of the period's change in total liabilitics was a P 800.000 decrease. d. If the assets owned by a company were P 800,000 and owners equity localled P 350,000 fur the pcriod, labili pes are P450.000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 6MC: Which of the following statements is true? A. Tangible assets lack physical substance. B. Tangible...

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