The Fundamental Accounting Equation States That Assets Equal _______

question 81

Multiple Choice

The fundamental accounting equation states that assets equal _______.

• A)liabilities plus owners' equity
• B)liabilities plus receivables
• C)liabilities minus owners' equity
• D)payables plus cash equivalents

---

Definitions:

Muffins

Baked goods that are usually sweet, made from batter or dough, and often enjoyed as a breakfast food or snack.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity (such as production of a specific good) more efficiently than another activity.

Compasses

Instruments used for navigation and orientation that show direction relative to the geographic cardinal directions.

Muffins

A small, baked item that is typically sweet, made from batter or dough.