Equality of the Accounting Equation Means That No Errors Have

question 85

True/False

Equality of the accounting equation means that no errors have occurred.

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Definitions:

Dividends Declared

Dividends Declared are profits that a company's board of directors has decided to distribute to shareholders, but which have not yet been paid out.

Increase

An uptick in size, number, value, or strength.

Posting

The process of transferring journal entry amounts to respective accounts in the ledger.

Equality

A principle ensuring that individuals are treated similarly, without any discrimination based on race, gender, ethnicity, religion, or social status.