If the assets owned by a business total $250,000, and owner's equity totals $200,000, liabilities total $50,000. True False Question 2 1 pts If net income for a proprietorship was $50,000, the owner withdrew $20,000 in cash and the owner invested $10,000 in cash, the capital of the owner increased by $40,000. True False Question 3 1 pts An account receivable is a claim against a customer arising from earning revenue on account. True False