Martha is responsible for setting up new employees in the payroll system. John is responsible for preparing paychecks, and Elaine signs the checks. The three employees set their friend, Paul, up as an "employee" and give him a weekly paycheck, which they all split evenly. Which of the following is occurring? Collusion Bonding Skimming Rationalization QUESTION 64 The basic accounting equation cannot be stated as: Assets = liabilities + stockholders' equity Assets - liabilities = stockholders' equity Assets = liabilities + common stock + revenue - expenses - dividends Assets = liabilities + common stock - revenue + expenses - dividends