1. On 31st December 2020, a company's balance sheet showed total assets of 6500 AED, total liabilities of 2700 AED, and retained earnings of 1800 AED. Paid-in capital on 31st December 2020 was? a 5600 AED b. 2000 AED c. 7400 AED d. 11000 AED 2. What is the basic meaning of the accounting equation? a. Resources should be equally divided b. Assets should always be more than the resources c. Source of funds equal to the use of funds d. Cost price is more important than the selling price 3. Which financial statement of a company represents the accounting equation? a. Profit & Loss Statement b. Income Statement C. Cash Flow Statement d. Balance Sheet