Which is the basic accounting equation that is applicable to every business? a. Assets = Liabilities +
Question:
Which is the basic accounting equation that is applicable to every business?
a. Assets = Liabilities + Owners’ Equity
b. Assets = Owners’ Equity – Liabilities
c. Assets + Liabilities = Owners’ Equity
d. Assets + Owners’ Equity = Liabilities
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Related Book For
Managerial Accounting for the Hospitality Industry
ISBN: 978-1119386223
2nd edition
Authors: Lea R. Dopson, David K. Hayes
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The accounting equation is a formula that shows the sum of a company\\\'s liabilities and shareholders\\\' equity are equal to its total assets (Assets = Liabilities + Equity). The clear-cut relationship between a company\\\'s liabilities, assets, and equity is the backbone of double-entry bookkeeping.
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