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10. Which of the following is NOT TRUE about an entity's equity? A. An equity represents owners' claims on the entity's assets. B. Equity is
10. Which of the following is NOT TRUE about an entity's equity? A. An equity represents owners' claims on the entity's assets. B. Equity is the amount of assets that are left over after the entity has paid off its liabilities. C. Equity represents the entity's assets and liabilities. D. Equity will increase if there are additional contributions by owners and when revenues are generated from the sale of goods or services.
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