Question
Which of the following expressions of the accounting equation is correct? a. Assets = Owner's Equity - Liabilities b. c and d are correct c.
Which of the following expressions of the accounting equation is correct?
a.
Assets = Owner's Equity - Liabilities
b.
c and d are correct
c.
Assets = Liabilities + Opening Owner's Equity - Drawings + Profit + Capital Injected
d.
Assets + Liabilities = Opening Owner's Equity - Profit + Drawings
e.
Liabilities = Assets + Opening Owner's Equity
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Auditing Fundamentals In A South African Context
Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo
2nd Edition
0190749040, 978-0190749040
