Which of the Following Is True of Accounting Equation

question 6

Multiple Choice

Which of the following is true of accounting equation?

• A) It is used to place records into understandable categories that are useful for managing a business.
• B) It assumes that a successful business will stay in business and this enables long-range planning and strategy.
• C) It underlies the legal forms of establishing businesses,such as corporations,limited partnerships,and limited liability companies.
• D) It ensures that accounting information is useful to the firm's stakeholders.

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Definitions:

Menopause

The time in a woman's life, typically between 45 and 55 years of age, when menstrual cycles cease permanently, marking the end of reproductive capability.

Cessation

The process of ending or being brought to an end, commonly used in the context of stopping a behavior or activity, such as smoking cessation.

Ovulation

The phase of the menstrual cycle during which a mature egg is released from the ovary, making it available for fertilization.

Bachelor's Degree

An undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).