Answered: Which is FALSE ? A. Assets =…

Which is FALSE ? A. Assets = Owner’s Equity + Liabilities. B. Assets – Liabilities = Owner’s Equity. C. Assets + Liabilities = Owner’s Equity. D. Assets – Owner’s Equity = Liabilities.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 3MC: Identify the correct components of the income statement. A. revenues, losses, expenses, and gains B....

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Question

Which is FALSE ?

A. Assets = Owner’s Equity + Liabilities.

B. Assets – Liabilities = Owner’s Equity.

C. Assets + Liabilities = Owner’s Equity.

D. Assets – Owner’s Equity = Liabilities.

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