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The basic accounting equation is: a. Assets A equals Liabilities L + Stockholders' Salaries SS. b. Assets A equals Liabilities L + Stockholders' Equity SE. c. Assets A equals Cash C - Loans L - Stockholders' Equity SE. d. Assets A equals Stockholders' Equity SE - Liabilities L. e. Stockholders' Equity SE equals Assets A + Liabilities L. f. None of these.

The basic accounting equation is: a. Assets A equals Liabilities L + Stockholders' Salaries SS. b. Assets A equals Liabilities L + Stockholders' Equity SE. c. Assets A equals Cash C - Loans L - Stockholders' Equity SE. d. Assets A equals Stockholders' Equity SE - Liabilities L. e. Stockholders' Equity SE equals Assets A + Liabilities L. f. None of these.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 2EA: Consider the following accounts, and determine if the account is an asset (A), a liability (L), or...
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The basic accounting equation is: a. Assets A equals Liabilities L + Stockholders' Salaries SS. b. Assets A equals Liabilities L + Stockholders' Equity SE. c. Assets A equals Cash C - Loans L - Stockholders' Equity SE. d. Assets A equals Stockholders' Equity SE - Liabilities L. e. Stockholders' Equity SE equals Assets A + Liabilities L. f. None of these.
Transcribed Image Text:The basic accounting equation is: a. Assets A equals Liabilities L + Stockholders' Salaries SS. b. Assets A equals Liabilities L + Stockholders' Equity SE. c. Assets A equals Cash C - Loans L - Stockholders' Equity SE. d. Assets A equals Stockholders' Equity SE - Liabilities L. e. Stockholders' Equity SE equals Assets A + Liabilities L. f. None of these.
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