Chapter 3, Problem 2MC

### College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

Chapter
Section

### College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

# The accounting equation may be expressed as (a) Assets = Liabilities – Owner’s Equity. (b) Assets = Liabilities + Owner’s Equity. (c) Liabilities = Owner’s Equity − Assets. (d) all of the above.

To determine

Show the expression of accounting equation.

Explanation

Option (a) is incorrect because the accounting equation expressed in the form of equation as AssetsÂ =Â LiabilitiesÂ +Â Ownerâ€™sÂ equity .

Option (c) is incorrect because the accounting equation expressed in the form of equation as AssetsÂ =Â LiabilitiesÂ +Â Ownerâ€™sÂ equity .

Option (d) is incorrect because the accounting equation expressed in the form of equation as AssetsÂ =Â LiabilitiesÂ +Â Ownerâ€™sÂ equity .

Option (b)

Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by creating a relation between resources or assets of a company and claims of resources to creditors and owners

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