25 2 nits The basic accounting equation cannot be rescated as .. (no answer) Assets and Latilities - Owner's Equity. Owners Cquity + Liabilities - Assets Assets at Owner's Equity-Liabilities Assets Liabilities - Owner's quity. 2 points) 26 Which of the following is not a true statement about a multiple-step income statemen to answer) Operating expenses are similar for merchandising and service enterprises There is a section for cost of goods sold. There may be a section for operating assets There may be a section for nonoperating activities. 2 points) 27 Freight terms of Foo Shipping point mean that the ... (no answer) buyer mus bitar the freight costs goods are placed free on board at the buyer's place of business seller must debit freight out Seller mest beat the freght costs 28 2 points) If supplies that have been purchased are used in the course of business, then (no answer) alability will increase . Owner's equity will decrease owner's equity will increase .. an asset will increase