Question

While studying accounting, you become increasingly familiar with a variety of generally accepted accounting principles. Already, you must appreciate some of the fundamental principles, rules, and procedures. Evaluate the following ten comments, and state whether you agree or disagree:

1)      The fundamental accounting equation precludes a situation where liabilities exceed assets.​

Answer 1

Explanation:

The fundamental accounting equation precludes a situation where liabilities exceed assets.

$disagree$

Answer 2

Answer:

Disagree

Explanation:

the prudence concept aslo .