Which statement below best describes the accounting equation?
A) Financing activities equal investing and operating activities.
B) The change in retained earnings equals net income less dividends.
C) Equality of revenue and expense transactions over time.
D) Resources of the company equal creditors' and owners' claims to those resources.

Question

02-01-2020
Business

contestada

Which statement below best describes the accounting equation?
A) Financing activities equal investing and operating activities.
B) The change in retained earnings equals net income less dividends.
C) Equality of revenue and expense transactions over time.
D) Resources of the company equal creditors' and owners' claims to those resources.

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Answer:

D) Resources of the company equal creditors' and owners' claims to those resources.

Explanation:

The accounting equation is presented below:

Total assets = Total liabilities + stockholder equity

This accounting equation use to prepare the balance sheet so that the total amount of the balance sheet is equaled and balanced

The total assets represent the resources of the company whereas the total liabilities include creditors, note payable and the stockholder equity involves the claim of the owners with that of resources