Which of the following are ways of expressing the basic accounting equation?

Which of the following are ways of expressing the basic accounting equation? (Select all that apply.)

Check all that apply.

Assets - Stockholders' Equity - Llabilities
Assets - Llabilities = Stockholders' Equity
Assets = Liabilities + Stockholders' Equity
Assets + Stockholders' Equity = Liabilities
Assets + Liabilities = Stockholders' Equity

An asset is an amount _______ , while a liability is an amount _______

Click the answer you think is right.

owed; owned
owned; owed

Expert Solution

1)

Accounting Equation

Assets = Liabilities + Shareholder's Equity

Assets - Liabilities = Stockholder's Equity

Assets - Stockholder's Equity = Liabilities

So, Options 1, 2, 3 are correct

2) Assets = Amount Owned

Liabilities = Amount Owed

Option '2' is correct

ekkarill92 answered 2 years ago

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