Which of the following is the correct version of the accounting equation?
A) Liabilities = assets + equity
B) Equity = assets + liabilities
C) Assets = equity + liabilities
D) None of the above
Correct Answer:
Verified
Q2: In the accounting equation, claims on the
Q4: If liabilities are $55,000 and assets are
Q5: Despite the uncertainty in relation to the
Q9: Identify the asset.
A)Bank overdraft.
B)Plant and equipment.
C)Loan from
Q10: Which of the following is a liability?
A)Drawings.
B)Prepaid
Q11: 'A present obligation of an entity arising
Q12: Which of the following would appear in
Q13: Which of these does not belong with
Q17: If liabilities are $45,000 and equity is
Q20: Which of these assets, which could be
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