Regarding the Accounting Equation,which of the Following Is a Correct

question 192

Multiple Choice

Regarding the accounting equation,which of the following is a correct statement?

• A) The accounting equation is made up of three parts.
• B) The accounting equation is the basic tool of accounting.
• C) Assets - Liabilities = Equity.
• D) All of the statements are correct.

---

Definitions:

Principle

A fundamental truth or proposition that serves as the foundation for a system of belief or behaviour or for a chain of reasoning.

Paying Yourself

The practice of setting aside a portion of one's income into savings or investment before spending on other expenses, often as part of personal finance management.

Terminal Punctuation

The punctuation mark, such as a period, question mark, or exclamation point, used at the end of a sentence to indicate its termination.

Belarus

A landlocked country located in Eastern Europe, known for its rich history, cultural heritage, and being one of the republics that constituted the former Soviet Union.