In the Expanded Version of the Accounting Equation, Income and Expenses

question 4

Multiple Choice

In the expanded version of the accounting equation, income and expenses are sub-groupings of:

• A) assets.
• B) liabilities.
• C) drawings.
• D) equity.

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Definitions:

Lions Hunt

A cooperative behavior exhibited by lions, primarily by the females of a pride, to strategically capture prey to feed the group.

Fitness Payoffs

The benefits in terms of survival and reproduction that an organism gains from a particular behavior or trait.

Selfishness

The act of placing one's own needs or desires above the welfare of others.

Lions Hunt

The cooperative behavior displayed by lions when pursuing and capturing prey to ensure survival of the pride.