Which of the following is not a correct form of the accountingequation?a. Assets equals Liabilities + Stockholders' equity.b. Assets + Stockholders' equity equals Liabilities.c. Assets Liabilities equals Stockholders' equity.d. Assets - Stockholders' equity equals Liabilities.

The correct answer is:b. Assets + Stockholders' equity equals Liabilities. The Fundamental…

Answered: Which of the following is not a correct…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA1: International Financial Reporting Standards

Section: Chapter Questions

Problem 7MCQ

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Similar questions

What do we mean when we say that capital, drawing, revenue, and expense accounts are under the umbrella of owners equity?
Stockholders' equity can be described as claims of: a. owners on total assets. b. creditors on total assets. c. customers on total assets. d. debtors on total assets.
GENERAL ACCOUNT
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
The accounting equation states: a. Assets + Liabilities = Stockholders' Equity b. Assets Liabilities - Stockholders' Equity c. Assets = Liabilities + Stockholders' Equity d. Assets + Stockholders' Equity = Liabilities e. None of the above
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Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets Liabilities Capital C. Assets = Capital + Liabilities D. Assets Capital - Liabilities
Financial Accounting ‏
True or false. Assets is equal to the sum of liabilities and owners equity
Answer the following questions: Define and discuss the term "equity" What financial statement element, other than equity, is typically affected by owner investments and distributions?
The accounting equation can be stated as: OA. Assets = Liabilities + Paid - in Capital + Retained Earnings. OB. Assets = Liabilities + Paid - in Capital Common Stock. C. Assets = Liabilities - Paid-in Capital - Dividends. D. Assets + Liabilities = Stockholders' Equity. -
Which of the following statements regarding equity is not true? It is defined independently of assets and liabilities. O It includes the retained earnings of the entity. It can be increased by additional contributions by the owners. It is increased by profit.

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Which of the following is not a correct form of the accounting equation? a. Assets equals Liabilities + Stockholders' equity. b. Assets + Stockholders' equity equals Liabilities. c. Assets Liabilities equals Stockholders' equity. d. Assets - Stockholders' equity equals Liabilities.