What is the basic accounting equation? - Engineering Economy Quiz

Civil Engineering : Engineering Economy - Quiz(MCQ)

What is the basic accounting equation?

Ownerâ€™s equity = assets + liability

Assets = liability + ownerâ€™s equity

Ownerâ€™s equity = liability - assets

Liability = assets + ownersâ€™ equity

Correct Answer : Assets = liability + ownerâ€™s equity

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