Which One of the Following Represents the Expanded Basic Accounting

question 70

Multiple Choice

Which one of the following represents the expanded basic accounting equation?

• A) Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - Expenses - Dividends
• B) Assets + Liabilities = Dividends + Expenses + Contributed Capital + Revenues
• C) Assets = Revenues + Expenses - Liabilities
• D) Assets - Liabilities - Dividends = Contributed Capital + Revenues - Expenses

---

Definitions:

Demand Schedule

A Demand Schedule is a tabular representation of the relationship between the price of a good or service and the quantity demanded by consumers, underlining the law of demand.

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain number of years.

Research And Development

A business or government activity that involves the study and creation of new products, services, or discoveries.

LRAC Curve

Long-Run Average Cost Curve, showing the lowest average cost at which a firm can produce any given level of output in the long term.