1. What is the importance of the following equation: ASSETS = LIABILITIES + OWNERS' EQUITY.

Group of answer choices

a. it shows the two groups, creditors and owners, who have provided resources to the company

b. if it is in balance it proves that no financial fraud has taken place

c. if it is not in balance the data processing system must have been corrupted.

d. if it is not in balance it shows financial fraud must have taken place

2. The stockholder equity section on the balance sheet of a corporate entity reveals net worth from what two sources?

Group of answer choices

a. profitable operations, current assets

b. owner investment, profitable operations

c. owner investment, borrowing

d. cash, owner investment