Question: Which one of the following represents the expanded basic accounting equation? 1) Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues.

Which one of the following represents the expanded basic accounting equation? 1) Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues. 2) Assets = Liabilities + Owner's Capital + Owner's Drawings Revenue Expenses. 3) Assets = Revenues + Expenses Liabilities. 4) Assets Liabilities Owner's Drawings = Owner's Capital + Revenues Expenses.

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