Double-entry accounting systems revolve around all but which of the following types of accounts?
A) Asset
B) Liabilities
C) Owner's equity
D) Expense

Question

Quizplus · Accepted Answer

Double-entry accounting systems revolve around assets, liabilities, and owner's equity, which are part of the accounting equation. Expenses are part of the income statement, not the balance sheet equation.

Double-Entry Accounting Systems Revolve Around All but Which of the Following