A he 18. A business has the following items in it: - Land $1,000,000 - Machinery $20,000 - Cash $10,000 - Loan $500,000 - Owner's equity ? What is the value of the owner's equity? a. $500,000 b. $1,000,000 c. $ 530,000 d. $1,030,000 19. The matching principle matches a. Customers with businesses b. Assets with liabilities c. Creditors with businesses d. Expenses with revenues 20. The revenue recognition principle dictates that revenue should be recognized in the Accounting records. a. when cash is received. b. when the service has been completed. c. at the end of the month. d. in the period that income taxes are paid