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

As which one of the following can the accounting equation be rewritten as?Group of answer choicesA. Assets –liabilities – operating capital + drawings = operating profitsB. Assets - profit –drawings = closing capital – liabilitiesC. Assets + profits – drawings – liabilities = closing capitalD. Assets – liabilities – drawings = operating capital + profits

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

Which of the following steps are used to calculate the accounting equation?The total assets of a business are entered in the company’s Balance Sheet on the assets sideThe total liabilities are listed on the Balance Sheet separately on the liabilities side along with the stockholder’s equityThe total liabilities are added to the stockholder’s equityAll of the above

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

Which of the following is the correct formula for the Accounting Equation?Assets = Liabilities – Shareholder’s EquityAssets = Liabilities + Shareholder’s EquityLiabilities = Assets + Shareholder’s EquityShareholder’s Equity = Assets + Liabilities