Question on: JAMB Accounting - 2017
The correct expression of accounting equation is
A
Assets = Liabilities + Equity
B
Net assets = Liabilities + Equity
C
Assets + Liabilities = Equity
D
Assets = Equity - liabilities
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Correct Option: A
The fundamental accounting equation is Asset = Capital + Liabilities
Asset = Liabilities + Equity the total assets of the company is generated through liabilities to outsiders that the company is still enjoying in addition with the equity by the owners of the business
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