Question

Select the correct equation
Total Assets = Total Liabilities + Equity
Total Liabilities = Total Assets + Equity
Total Equity = Total Assets + Total
Total Equity = Total Liabilities - Total Assets​

Answer 1

Answer:

PART OF

Guide to Accounting

CORPORATE FINANCE & ACCOUNTING FINANCIAL RATIOS

Accounting Equation

By JASON FERNANDO

Reviewed By AMY DRURY

Updated Jan 24, 2021

What Is the Accounting Equation?

The accounting equation is considered to be the foundation of the double-entry accounting system. On a company's balance sheet, it shows that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity.

Based on this double-entry system, the accounting equation ensures that the balance sheet remains “balanced,” and each entry made on the debit side should have a corresponding entry (or coverage) on the credit side.

Answer 2

Answer:

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