Which one of the following represents the expanded basic accounting equation?
A) Assets = Liabilities + Contributed Capital + Retained Earnings + Revenues - Expenses - Dividends
B) Assets + Liabilities = Dividends + Expenses + Contributed Capital + Revenues
C) Assets = Revenues + Expenses - Liabilities
D) Assets - Liabilities - Dividends = Contributed Capital + Revenues - Expenses

Question

Quizplus · Accepted Answer

The expanded basic accounting equation includes all of the elements that affect the accounting equation - assets, liabilities, contributed capital, retained earnings, revenues, expenses, and dividends. Option A represents all of these elements, while the other options only include a subset of them.

Which One of the Following Represents the Expanded Basic Accounting