Use the fundamental accounting equation to solve the following: Assets minus liabilities equals:
A)cash reserves.
B)gross margin.
C)owners' equity.
D)net income.

Name: Use the fundamental accounting equation to solve the following: Assets minus liabilities equals: A)cash reserves. B)gross margin. C)owners' equity. D)net income.
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Question

Quizplus · Accepted Answer

The fundamental accounting equation is Assets = Liabilities + Owners' Equity. Therefore, Assets minus Liabilities would equal Owners' Equity (C).

Use the Fundamental Accounting Equation to Solve the Following: Assets