If the liabilities owed by a business total $300,000 and owner's equity is equal to $300,000, then the assets also total $300,000.

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Anzel Abdiaziz · Accepted Answer

Final Answer : False, Explanation :  According to the accounting equation, Assets = Liabilities + Owner's Equity. If liabilities are $300,000 and owner's equity is $300,000, then assets must total $600,000 (300,000 + 300,000).

If the liabilities owed by a business total $300,000 and owner's equity is equal to $300,000, then the assets also total $300,000.

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