Asked by Austin Deaver on Jun 28, 2024
Verified
In the accounting equation, Assets = Liabilities + ______.
A) Revenue
B) Expenses
C) Equity
D) Cash flow
Accounting Equation
A fundamental principle in finance representing the relationship: Assets = Liabilities + Equity.
Assets
Resources owned or controlled by a company, expected to produce future economic benefits.
Equity
The value of an ownership interest in property, including shareholders' equity in a business.
- Comprehend the elements and functionality of the accounting equation.
Verified Answer
TD
Taylor DoukasJul 02, 2024
Final Answer :
C
Explanation :
The correct answer is Equity. The accounting equation is Assets = Liabilities + Equity, which represents the relationship between a company's resources (assets), obligations (liabilities), and the owners' interest (equity).
Learning Objectives
- Comprehend the elements and functionality of the accounting equation.
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