A- QUESTION 11 The balance sheet equation can be expressed as: a. Assets -Liabilities Owners equity Ob. All of the above c. Assets -Liabilities Owners' equity d. Assets - Ownership equity - Liabilities - B- QUESTION 12 A ledger shows: O a A chronological record of all accounting transactions b. A balance of all accounts A balance of all income statement accounts OC A balance of all balance sheet accounts Od C- QUESTION 13 Net Profit will result during a time period when: assets exceed liabilities Oa Ob. expenses exceed revenues revenues exceed expenses. . assets exceed revenues. Od