The accounting equation may be expressed as
A) owner's equity = assets − liabilities.
B) revenue − expenses = net income.
C) revenue = net income − expenses.
D) liabilities − owner's equity = assets.
Correct Answer:
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Q35: An example of an expense is
A) investments.
B)
Q36: The balance sheet reports assets,liabilities,and owner's equity
Q37: An increase in a revenue account may
Q38: Increases to owner's equity may be from
A)
Q39: The statement of owner's equity shows the
Q41: From the following list of accounts,prepare
Q42: The relationship between the three basic accounting
Q43: _ represent probable future benefits.
Q44: _ is the amount by which business
Q45: _ represent the decrease in assets (or
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