The liability created by a business purchasing books on credit is a/an: Select one: a. account receivable. b. expense. c. None of the above 0 d. account payable. Which of the equation is correct for owner's equity? Select one: a. Owner's equity = Capital +/(-) Profit/(Losses)-Drawings b. Owner's equity = Revenue - Expenses c. Owner's equity = Capital + Profit + Drawings d. Owner's equity = Assets - Drawings All of the following are financial statement(s) of a proprietorship except the Select one: O a. Statement of cash flows b. Statement of owner's equity O O O C.Statement of retained earnings d. Statement of Profit or Loss