Question 13 5 pts True or false? If total assets decreased by $20,000 and owner's equity decreased by $25,000 during a quarter, the total liabilities increased by $45,000 in that same quarter. True False Question 14 5 pts Which of the following is true about assets? O Liabilities are always more than the assets of a business. O Assets of a business are equal to owner's equity less liabilities O Expenses and assets are the same since they are both acquired with cash. O Owners and/or creditors finance the assets of a business. Question 15 5 pts Which of the following would not be considered an accounting transaction of the business? selling goods for cash O providing a sales offer receiving payment for services O using loan proceeds to pay for raw materials Question 16 5 pts Which of the following is most likely to obtain large amounts of investments by the issuance of stock? O corporation O government entity not-for-profit O partnership Question 17 5 pts True or false? Financial accounting statements are only useful to the owners of the business True False