Accounting Equation Quiz
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Questions and Answers

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?

  • 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?

  • 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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