In financial accounting, A. capital plus liabilities amount to assets. B. capital equals liabilities plus long-term liabilities. C. assets plus liabilities amount to capital. D. long-term liabilities plus asset amount to capital. E. capital plus drawings amount to assets.

In the accounting equation, what is the term for the difference between assets and liabilities?Multiple choice question.debtowners' equityretained earningsincome

Which one of the following accounting equations is correct?Group of answer choicesA. Cash + Other assets = Capital - LiabilitiesB. Capital + Liabilities = Assets + IncomeC. Assets – Liabilities = CapitalD. Assets+ Capital = Liabilities

The accounting equation can be written as:Question 14Answera.Assets - Liabilities - Opening Capital + Drawings = Profitb.Assets + Profits - Drawings - Liabilities = Closing Capitalc.Assets - Liabilities - Drawings = Opening Capital + Profitd.Opening Capital + Profit - Drawings - Liabilities = Assets

What is the basic accounting equation?Group of answer choicesA. Assets = Expense +IncomeB. Assets = Cash + CapitalC. Assets = Capital + LiabilitiesD. Assets = Expenses + Capital

Assets are always equal to:Question 13Answera.Liabilities + Capitalb.Liabilities + Accounts Payablec.Liabilitiesd.Capital