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
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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