Which of the Following Balance Sheet Equations Is INCORRECT

question 64

Multiple Choice

Which of the following balance sheet equations is INCORRECT?

• A)Assets - Liabilities = Shareholders' Equity
• B)Assets = Liabilities + Shareholders' Equity
• C)Assets - Current Liabilities = Long Term Liabilities
• D)Assets - Current Liabilities = Long Term Liabilities + Shareholders' Equity

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Definitions:

Diversity

The presence of differences within a given setting, including differences in race, ethnicity, gender, sexual orientation, age, and other attributes.

Individualistic Culture

A culture that emphasizes personal achievements and individual rights, often prioritizing the individual over the group.

Defense Mechanism

Psychological strategies used unconsciously to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Rationalization

A defense mechanism where controversial behaviors or feelings are justified and explained in a seemingly rational or logical manner to avoid the true explanation.