Which Is a True Statement Regarding the Accounting Equation

question 173

Multiple Choice

Which is a true statement regarding the accounting equation?

• A)The equation can be stated as assets minus liabilities equals equity.
• B)The equation consists of three parts: assets,liabilities,and net income.
• C)The equation is an optional tool for accountants to use.
• D)The equation does not need to balance during a specific period.

---

Definitions:

Equal Pay

The principle that individuals should receive the same remuneration for work of equal value, without discrimination based on gender, ethnicity, or other unrelated factors.

Minimum Wage

The lowest legal hourly rate that an employer can pay its workers, set by government policy.

Federal Law

Definition: Legislation passed by the national government of a country applicable throughout its entire territory.

Comparable-worth Policies

Comparable-worth Policies aim to ensure equal pay for different jobs of comparable value, addressing gender pay disparities.