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Accounting Equation Quiz

Accounting Equation Quiz

Syahira Mohd
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Gaya Bebas
Universiti
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Accounting Equation Quiz

Syahira Mohd

171

15 soalan

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# 1

What is the basic accounting equation?

Equity = Assets - Liabilities
Assets = Liabilities + Equity
Assets - Liabilities = Equity
Assets + Liabilities = Equity
# 2

Define assets in accounting in simpler word

Rent
Spend
Own
Owe
# 3

What are liabilities in simpler word?

Profits
Own
Spend
Owe
# 4

Explain equity in the context of the accounting equation.

Equity is the owner's residual interest in the assets of a business after deducting liabilities.
Equity represents the cash flow of a company.
Equity is the sum of all expenses incurred by a business.
Equity is the total liabilities of a business.
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