help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / The elements of a company's financial position are related by the accounting equation

The elements of a company's financial position are related by the accounting equation

Accounting

The elements of a company's financial position are related by the accounting equation. The accounting equation is

a. Assets = Liabilities - Equity.

b. Assets = Liabilities + Equity.

c. Net Income = Revenue - Expenses.

d. Net Income = Revenue + Expenses.

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Answer : b. Assets = Liabilities + Equity.

Stated in the context above, the accounting equation is Assets = Liabilities + Equity. This equation must always be equal after all transactions are recorded or all journal entries are entered. Assets, liabilities and equity are the three components of a balance sheet or the statement of financial position.

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)

Related Questions