Which of the following is not a correct expression of the accountingequation?a. Assets Liabilities + Owners Equity.b. AssetsLiabilities Owners Equity.c. AssetsLiabilities + Paid-In Capital + Retained Earnings.d. Assets = Liabilities + Paid-In Capital + Revenues Expenses.e. Assets Liabilities = Owners Equity.

Correct Answer:b. Assets = Liabilities Owners Equity. Explanation:The accounting equation is the…

Answered: Which of the following is not a correct…

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

Explain how the following items affect equity: revenue, expenses, investments by owners, and distributions to owners.
Which of the following is a measurement of earnings that represents the profit before interest, taxes, depreciation and amortization are subtracted? A. net income B. retained earnings C. EBITDA D. EPS
What are the effects of the following transactions on the accounting equation? Indicate an increase (+) or decrease () under the affected asset, liability, and owners equity headings.
What do we mean when we say that capital, drawing, revenue, and expense accounts are under the umbrella of owners equity?
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?
The balance sheet lists which of the following? A. assets, liabilities, and owners equity B. revenues, expenses, gains, and losses C. assets, liabilities, and investments by owners D. revenues, expenses, gains, and distributions to owners
Which of these statements is not one of the financial statements? A. income statement B. balance sheet C. statement of cash flows D. statement of owner investments
Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets Liabilities Capital C. Assets = Capital + Liabilities D. Assets Capital - Liabilities
Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets Liabilities Capital Capital + Liabilities = Capital - Liabilities C. Assets D. Assets -
Financial Accounting ‏
The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets – Noncurrent Assets = LiabilitiesC. Assets = Liabilities + Investments by OwnersD. Assets = Liabilities + Owner’s Equity
Which of the following elements of financial statements is most closely related tomeasurement of financial position?a. Equityb. Revenuec. Expenses

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