19 Paragraph) emphasis Heading 1 Normal Strong Subtitle Title Styles 15 15. A. It represents assets minus liabilities. B. With respect to owners' equity, which of the following statements is true? It is only affected by owners investing capital in their business or owners taking money out of the business. C. It reflects the owners' liquidity in the business. D. E. It does not change once owners invest and the business starts operations. None of the above statements are true 16. If a hotel buys $800 of wine on 30 days credit in July, the following would occur: Chris Quilding A. B. C. D. E. In July expenses would increase by $800 and accounts payable would increase by $800. In July expenses would increase by $800 and the hotel's bank account would decrease by $800. In July wine inventory would increase by $800 and the hotel's bank account would decrease by $800. In July cost of wine sales would increase by $800 and accounts payable would increase by $800. In July wine inventory would be increased by $800 and accounts payable would be increased by $800.