Which one of the following represents the expanded basic accounting equation?
A) Assets = Liabilities + Share Capital-Ordinary account + Retained Earnings + Dividends - Revenue - Expenses.
B) Assets + Dividends + Expenses = Liabilities + Share Capital-Ordinary + Retained Earnings + Revenues.
C) Assets - Liabilities - Dividends = Share Capital-Ordinary + Retained Earnings + Revenues - Expenses.
D) Assets = Revenues + Expenses - Liabilities.
Correct Answer:
Verified
Q41: The double-entry system requires that each transaction
Q46: For the basic accounting equation to stay
Q48: Which of the following is not true
Q53: An accounting convention is best described as
A)an
Q62: An accountant has debited an asset account
Q67: Which of the following accounts does not
Q68: Which account below is not a subdivision
Q70: An awareness of the normal balances of
Q70: Which of the following correctly identifies normal
Q80: Assets normally show
A) credit balances.
B) debit balances.
C)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents