Multiple Choice
Which of the following is the reason that the accounting equation is true by definition?
A) Liabilities are the source that funds the purchase of assets
B) Assets are the source that funds the purchase of liabilities and owner's equity
C) Liabilities and owner's equity are the sources that fund the purchase of assets
D) None of these are true, the accounting equation is merely a coincidence
Correct Answer:
Verified
Correct Answer:
Verified
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