Q2. The -principle requires that expenses be matched with revenues. A. Monetary Unit Assumption B. Expenses Recognition Principle C. Cost principle D. Revenue Recognition Principle Q3. A partnership business generally has limited liability. A True B. False I Q4. How is the owner's equity calculated? Q5. During the year, assets increased by $ 90,000 and liabilities decreased by $ 80,000. What was the owner's equity at the end of the year? Q6. On August 31 of the current year, the assets and liabilities of Martha Inc. as follows: Supplies: $10,000; Cash $28,000; Building $65,000; Expenses $9,000; Accounts Payable $35,000; Accounts Receivable $32,000; Revenue $45,000; Drawings $2,000. What is the amount of owner's capital?