Which One of the Following Represents the Expanded Basic Accounting

question 84

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 - Liabilities - Dividends = Contributed Capital + Revenues - Expenses
• D) Assets = Revenues + Expenses - Liabilities

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Definitions:

Direct Quote

A direct quote is a representation of the cost of one currency in terms of another currency.

British Pound

The currency of the United Kingdom, which is one of the world's major currencies, traded extensively in the foreign exchange markets.

Eurodollar Market

A market for US dollars deposited in banks outside the United States, particularly used for lending and borrowing between banks internationally.

Foreign Banks

Banks that are based in a country different from the country of operation, often providing a range of financial services like deposits, loans, and currency exchange.