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Question Completion Status:

QUESTION $1$

What are the essential characteristics of accounting?

The art of creating financial statements.

The study of investment strategies and stock market analysis.

The process of identifying, analyzing, measuring, recording, and communicating the financial information of an entity.

The practice of budgeting and managing personal expenses.

QUESTION $2$

The accounting equation can be expressed:

Assets $=$ Liabilities $-$ Stockholders' Equity

Assets $+$ Liabilities $=$ Stockholders' Equity

Assets $=$ Liabilities $+$ Stockholders' Equity

Assets $+$ Stockholders' Equity $=$ Liabilities