Which one of the following represents the expanded basic accounting equation?
A) Assets = Liabilities + Contributed capital + Retained Earnings + Revenues - Expenses - Dividends
B) Assets + Liabilities = Dividends + Expenses + Contributed capital + Revenues
C) Assets - Liabilities - Dividends = Contributed capital + Revenues - Expenses
D) Assets = Revenues + Expenses - Liabilities

Question

Quizplus · Accepted Answer

The expanded basic accounting equation is Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - Expenses - Dividends. This equation takes into account the components that affect the equity part of the equation, including revenues, expenses, and dividends, in addition to contributed capital and retained earnings.

Which One of the Following Represents the Expanded Basic Accounting