3 Questions
Which of the following statements accurately describes the accounting equation?
Assets = Liabilities + Owner's Equity
What is the relationship between Assets, Liabilities, and Owner's Equity in the accounting equation?
Assets + Liabilities = Owner's Equity
Which of the following is an example of an asset in the accounting equation?
Accounts Receivable
Test your knowledge of the accounting equation with this quiz! Learn about the relationship between assets, liabilities, and owner's equity and identify examples of assets in the equation.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
