Accounting Equation - SS1 Accounting Past Questions and Answers - page 1

Assets = Liabilities + Equity

Assets - capital = Equity

Liabilities - Assets = capital

Equity - Liabilities = Assets

Equipment, vehicles, and buildings

Employees, customers, and vendors

Cash, inventory, and property

All of the above

The company's obligations

The company's assets

The company's profits

The company's losses

The company's expenses

The total value of the company's assets

The company's net income

The residual interest in the company after liabilities have been subtracted from assets

That a company's employees are satisfied

That a company's products are high-quality

That a company's financial records are accurate and reliable

That a company's marketing strategies are effective