Question: Which best describes the equality required in the basic accounting equation? Select an answer: Assets plus liabilities must equal Owner's Equity. Liabilities must be offset

Which best describes the equality required in the basic accounting equation?

Select an answer:

  • Assets plus liabilities must equal Owner's Equity.

  • Liabilities must be offset by Owner's Equity.

  • Assets must be matched to the source of the assets.

  • Assets must be equal to Owner's Equity.

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