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Author Question: Which of the following equations is the fundamental accounting equation? a. Assets Liabilities = ... (Read 205 times)

vicotolentino

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on: Jul 6, 2018
Which of the following equations is the fundamental accounting equation?
 a. Assets  Liabilities = Owner's Equity
  b. Assets = Liabilities + Owner's Equity
  c. Assets + Liabilities = Owner's Equity
  d. Assets  Owner's Equity = Liabilities
  e. Assets + Owner's Equity = Liabilities

Question 2

Amounts owed by a business are referred to as
 a. assets.
  b. equities.
  c. liabilities.
  d. capital.
  e. expenses.


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chevyboi1976

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Reply #1 on: Jul 6, 2018
Answer to Question 1

B

Answer to Question 2

C


vicotolentino

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Reply #2 on: Jul 6, 2018
Thank you :)


chevyboi1976

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Reply #3 on: Jul 6, 2018
Happy to help you


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