The accounting equation may be expressed as: The accounting equation may be expressed as:a. Assets = Equities - Liabilitiesb. AssetsLiabilities = Owner's Equityc. Assets = Revenues - Liabilitiesd. Assets Liabilities = Owner's Equity

The correct answer is:d. Assets - Liabilities = Owner's Equity Explanation:Accounting Equation: The…

Answered: The accounting equation may be…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 11Q: Explain how the following items affect equity: revenue, expenses, investments by owners, and...

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Similar questions

Define current assets and current liabilities. Why are current assets and current liabilities separated from noncurrent assets and long-term liabilities on the balance sheet?
Identify the correct components of the income statement. A. revenues, losses, expenses, and gains B. assets, liabilities, and owners equity C. revenues, expenses, investments by owners, distributions to owners D. assets, liabilities, and dividends
Classification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.
Consider the following accounts, and determine if the account is an asset (A), a liability (L), or equity (E). A. Accounts Payable B. Cash C. Dividends D. Notes Payable
FINANCIAL STATEMENT ACCOUNTS Label each of the following accounts as an asset (A), liability (L), owners equity (OE), revenue (R), or expense (E). Indicate the financial statement on which the account belongsincome statement (IS), statement of owners equity (SOE), or balance sheet (BS)in a format similar to the following.
Explain the following measurement bases of the elements of financial statements andindicate how assets and liabilities are measured in each case:i. Historical cost ii. Current cost iii. Realisable value
How to compute the ratio of liabilities to owner's equity
Under IFRS, liabilities and shareholders' equity on the balance sheet usually appear in which order? Equity, noncurrent liabilities, and current liabilities O Equity, current liabilities, and noncurrent liabilities Current liabilities, noncurrent liabilities, and equity Noncurrent liabilities, current abilities, and equity
How to find Total Debt to Total Assets ration using an income statement, balance sheet or cash flow.
The debt to equity ratio is expressed as a. Total Liabilities Total Equity. b. Operating Income Interest Expense. c. Total Liabilities + Total Assets. d. Long-Term Debt Total Equity.
how is profit or loss calculated on an income statement?

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The accounting equation may be expressed as: a. Assets = Equities - Liabilities b. Assets Liabilities = Owner's Equity c. Assets = Revenues - Liabilities d. Assets Liabilities = Owner's Equity