Accountıng I Deneme Sınavı Sorusu #1313573
Which of the following statements about the basic accounting equation is true?
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Assets are on the right side of the equality while liabilities and owner’s equity are on the left side of the equality |
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The left side of the equality will never be equal to the right side of the equality |
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It shows the relationship among assets, liabilities, and owner’s equity |
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In normal business life, the efficient way of financing total assets is to use only owner’s equity |
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In the basic accounting equation, assets must never equal the sum of liabilities and owner’s equity. |
The basic accounting equation provides the underlying framework for recording and summarizing the financial transactions of a business entity. It shows the relationship among assets, liabilities, and owner’s equity. Assets are on the left side of the equality while liabilities and owner’s equity are on the right side of the equality. But the left side of the equality will alvays be equal to the right side of the equality.
In the basic accounting equation, assets must always equal the sum of liabilities and owner’s equity.
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