Question: 1.) Give and explain the answer: If the owner's equity is P150,000 which is 40% of the total assets, how much is the total liabilities

1.) Give and explain the answer:

If the owner's equity is P150,000 which is 40% of the total assets, how much is the total liabilities of the business?

2.) Explain the message below

'' Accounting is a systematic process ''

3..) Explain the message below

'' Accounting is an art ''

4.) Explain the message below

'' Accounting is a service activity ''

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