104k views
14 votes
True or false? the basic accounting equation is: assets = liabilities equity.

User Volume One
by
6.3k points

1 Answer

3 votes

Answer:

it should be Assets = liabilities + equity

Explanation:

The three elements of the accounting equation are assets, liabilities, and shareholders' equity. The formula is straightforward: A company's total assets are equal to its liabilities plus its shareholders' equity.

User Tando
by
6.8k points