객관식
Which of the following is a permanent account?
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1. Introduction to Accounting
Fundamental Accounting Equation
객관식
Which one of the following best states the fundamental accounting equation?
A
Assets = Liabilities + Equity
B
Liabilities = Assets + Equity
C
Assets = Revenues - Expenses
D
Equity = Assets - Revenues
검증된 단계별 안내1
Understand the fundamental accounting equation, which is the foundation of double-entry bookkeeping. It represents the relationship between a company's assets, liabilities, and equity.
Recall that the fundamental accounting equation is expressed as: Assets = Liabilities + Equity. This equation ensures that the balance sheet remains balanced.
Analyze why the other options are incorrect: 'Liabilities = Assets + Equity' is incorrect because liabilities and equity together make up the total assets, not the other way around.
Evaluate the option 'Assets = Revenues - Expenses': This is incorrect because revenues and expenses are part of the income statement, not the balance sheet. They do not directly define the fundamental accounting equation.
Consider the option 'Equity = Assets - Revenues': This is incorrect because equity is derived from the fundamental equation as Assets - Liabilities, not Assets - Revenues.
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