ccounting equation under IFRS is as follows: (a) Assets = Liabilities + Owner's Capital + Owner's Drawings + Revenues - Expenses. (b) Assets + Liabilities = Owner's Capital + Owner's Drawings + Revenues - Expenses. (c) Assets = Liabilities + Owner's Capita
ccounting equation under IFRS is as follows: (a) Assets = Liabilities + Owner's Capital + Owner's Drawings + Revenues - Expenses. (b) Assets + Liabilities = Owner's Capital + Owner's Drawings + Revenues - Expenses. (c) Assets = Liabilities + Owner's Capita
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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The expanded accounting equation under IFRS is as follows:
(a) Assets = Liabilities + Owner's Capital + Owner's Drawings + Revenues - Expenses.
(b) Assets + Liabilities = Owner's Capital + Owner's Drawings + Revenues - Expenses.
(c) Assets = Liabilities + Owner's Capital - Owner's Drawings + Revenues - Expenses.
(d) Assets = Liabilities + Owner's Capital + Owner's Drawings - Revenues - Expenses.
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