Which Is a TRUE Statement Regarding the Accounting Equation

question 151

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.

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