Which Financial Statement Is a Representation of the Accounting Equation

question 57

Multiple Choice

Which financial statement is a representation of the accounting equation?

• A) Income Statement
• B) Statement of Owner's Equity
• C) Balance Sheet
• D) Profit and Loss Statement

---

Definitions:

Olympus Mons

The largest volcano in the solar system, located on Mars, standing about 22 kilometers high.

Volcano

An opening in the Earth's surface through which molten rock, ash, and gases are ejected or flow out.

Tectonics

The study of the Earth's structural features, including its crust and mantle movements, which can lead to earthquakes, volcanoes, and mountain building.

Collapse

The sudden failure or caving in of a structure or geological feature due to weakening or underlining destabilization.