Which of the Following Is the CORRECT Accounting Equation

question 93

Multiple Choice

Which of the following is the CORRECT accounting equation?

• A)Assets + Revenue = Liabilities + Expenses
• B)Assets = Liabilities + Owners' equity
• C)Assets + Revenue = Owners' equity
• D)Assets + Liabilities = Owners' equity

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Definitions:

Nonprofit Organizations

Entities that operate with the primary goal of serving the public interest or common good, without the intention of making a profit for owners or stakeholders.

Transactive Memory

A system through which groups collectively encode, store, and retrieve knowledge, significantly impacting group performance.

Team Training

A process aimed at enhancing the efficiency, understanding, and skills of a group of people working together towards common objectives.

Individually

This term refers to something done by a single person or entity, without the involvement of others, highlighting actions or decisions made independently.