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Questions and Answers
Which of the following is the accounting equation for class 11?
Which of the following is the accounting equation for class 11?
- Assets = Liabilities + Owner's Equity (correct)
- Assets = Liabilities * Owner's Equity
- Assets = Liabilities / Owner's Equity
- Assets = Liabilities - Owner's Equity
What does the accounting equation represent in class 11?
What does the accounting equation represent in class 11?
- The relationship between a company's assets and owner's equity
- The relationship between a company's assets, liabilities, and owner's equity (correct)
- The relationship between a company's liabilities and owner's equity
- The relationship between a company's assets and liabilities
Which of the following is the correct formula for calculating owner's equity in class 11?
Which of the following is the correct formula for calculating owner's equity in class 11?
- Owner's Equity = Assets / Liabilities
- Owner's Equity = Assets - Liabilities (correct)
- Owner's Equity = Assets + Liabilities
- Owner's Equity = Assets * Liabilities
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