The Correct Form of Accounting Equation Is (2024)

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Solution

(a) Assets – Receivable = Equity

(b) Assets + Receivable = Equity

See Also
Understanding Balance SheetsGolden Rules of Accounting: Overview and TypesBalance Sheet: Explanation, Components, and ExamplesBalance sheet audit is an audit in which _________.balance sheet of a number of years are auditedaudit is done the end of the financial yearverification of assets and liabilities is doneall of the above

(c) Assets – Liabilities = Equity

(d) Assets + Liabilities = Equity

Answer:

(c) Assets – Liabilities = Equity

The correct form of accounting equation is Assets – Liabilities = Equity. It can also be written as Assets = Liabilities + Equity. This equation is also known as the balance sheet equation.

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The Correct Form of Accounting Equation Is (2024)
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