-When a corporation buys back its own common stocks (that is known as Treasury stocks) from existing shareholders, the company's asset amount decreases.

True or False

-Owners Equity is the amount that shareholders can claim on the companys assets before the company makes the payment to its creditors.

True or False

-Owners Equity is also called the "residual value" because the company's creditors must be paid first for liabilities.

True or False