Accounting Fundamentals Quiz

$Assets = Liabilities + Owner's Equity$ (correct)

$Assets - Liabilities = Owner's Equity$

$Liabilities = Assets - Owner's Equity$

$Owner's Equity = Assets - Liabilities$

$Net Income = Revenue / Expenses$

$Net Income = Revenue * Expenses$

$Net Income = Revenue + Expenses$

$Net Income = Revenue - Expenses$ (correct)

Balance Sheet

Statement of Retained Earnings

Statement of Cash Flows

Income Statement (correct)