All of the Following Are Acceptable Ways of Stating the Accounting

question 67

Multiple Choice

All of the following are acceptable ways of stating the accounting equation except

• A) owners' equity = assets ― liabilities.
• B) assets = liabilities + owners' equity.
• C) owners' equity ― liabilities = assets.
• D) assets ― liabilities = owners' equity.
• E) assets = shareholders' equity + liabilities.

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Definitions:

United States v. Cruikshank

An 1876 Supreme Court case that limited the federal government's ability to protect African American rights, stating that the Enforcement Act only applied to states, not individuals.

Equal Rights

The principle that all people should have the same rights and opportunities, regardless of characteristics like gender, race, or religion.

States

Political and territorial divisions within a country, having a specific level of autonomy and government to manage local affairs.