Which of the following is true about the fundamental accounting equation?
A)It may be expressed as assets + liabilities = owners' equity.
B)It is always expressed as assets = liabilities - owners' equity.
C)It must remain in balance at all times.
D)One side of the equation must equal zero.

Question

Quizplus · Accepted Answer

The fundamental accounting equation is Assets = Liabilities + Owners' Equity, which must always remain in balance to ensure the accuracy of financial statements.

Which of the Following Is True About the Fundamental Accounting