The Fundamental Accounting Equation States: Assets = ________

question 322

Multiple Choice

The fundamental accounting equation states: Assets = ________.

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

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Definitions:

Causal Factor

An element or factor that brings about a change or results in a particular effect or outcome.

Necessary Condition

a prerequisite that must be met for a certain event or outcome to occur.

Sufficient Condition

A condition or set of conditions that will ensure the occurrence of a particular outcome.

Sufficient Condition

A condition or set of conditions that guarantees the occurrence or the truth of something else but is not always necessary for it to happen.