C.requires equilibrium of resources and the claims on those resources

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 14EA: From the following Company A adjusted trial balance, prepare simple financial statements, as...
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The accounting equation:

A.provides the structure for the income statement

B.requires at least one entry to record a transaction

C.requires equilibrium of resources and the claims on those resources

D.is another name for the balance sheet

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