Question 12 Not yet answered Marked out of 0.50 P Flag question Loss are the amount of money or the value of goods taken personal use by owners. Select one: True False Question 13 Not yet answered Marked out of 0.50 P Flag question When a business makes any purchase with debt or capital, both sides of the equation must equal. Select one: O True False Question 14 Not yet answered Marked out of 0.50 P Flag question The business is separate from the owner(s) of the business. Select one: : True False Question 15 Not yet answered Marked out of 1.00 Flag question Land is an example of Select one: O a. Current Liabilities a O b. Fixed Asset O c. Current Asset d. Long-term Liabilities Question 16 Not yet answered Marked out of 1.00 P Flag question Financial Accounting is Select one: a. None of them O b. To determine the cost of goods produced and services provided by a business O c. Refers to internal communication of information to management for planning, decision making and formulation of long-term plans d. It deals with the recording of the classification and synthesis of business events