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Description: The accounting equation may be expressed as(a) Assets = Liabilities - Owner's Equity.(b) Assets = Liabilities + Owner's Equity.(c) Liabilities = Owner's Equity - Assets.(d) all of the above.

Business

Accounting

The accounting equation may be expressed as(a) Assets = Liabilities - Owner's Equity.(b) Assets = Liabilities + Owner's Equity. (c) Liabilities = Owner's Equity - Assets.(d) all of the above.

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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