Which of the following equations is the standard basic accounting equation?O Assets minus owner's equity equals liabilitiesO Owner's equity plus liabilities equal assetsO Assets equal to liabilities plus owner's equityO Assets minus liabilities equals owner's equity The past year's income statement of a business showed a bottom line of P100,000 net profit. What does P100,000 net profitmean?O Revenues recorded is greater by P100,000 compared to expensesO Revenues amounted to P100,000O Expenses were more than revenues by P100,000O Revenue were equal to expenses

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Description: Which of the following equations is the standard basic accounting equation?O Assets minus owner's equity equals liabilitiesO Owner's equity plus liabilities equal assetsO Assets equal to liabilities plus owner's equityO Assets minus liabilities equa

Accounting equation means the relation between the assets , liabilities and owner equity. Assets…

Business

Accounting

Which of the following equations is the standard basic accounting equation? Assets minus owner's equity equals liabilities Owner's equity plus liabilities equal assets Assets equal to liabilities plus owner's equity O Assets minus liabilities equals owner's equity

Which of the following equations is the standard basic accounting equation? Assets minus owner's equity equals liabilities Owner's equity plus liabilities equal assets Assets equal to liabilities plus owner's equity O Assets minus liabilities equals owner's equity

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 3DQ

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