Post Utme Crawford University 2023 Commerce Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2023 Commerce Objective / Multiple Choice
Question 21 POST_UTME_CRAWFORD_UNIVERSITY • 2023 • COMMERCE • objective

A company's financial statements are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). Which of the following statements is true about the accounting equation?

Answer Options

Correct Answer A. Assets = Liabilities + Equity
B. Assets = Liabilities - Equity
C. Assets = Equity - Liabilities
D. Equity = Liabilities + Assets
Correct Answer
A
Correct Option:
Assets = Liabilities + Equity

About This Question

This is Post Utme Crawford University 2023 Commerce Question 21. It is one of the objective questions from the 2023 Post Utme Crawford University Commerce examination.

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