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Question Practice

Which statement correctly explains the accounting equation?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Recording of Transactions - I
Question Bank

Which statement correctly expl...

Single Answer MCQ
Q-00053916

Which statement correctly explains the accounting equation?

1

Equity is the difference between assets and liabilities.

2

Assets are always equal to liabilities.

3

An increase in liabilities results in a decrease in assets.

4

Liabilities can never exceed assets.

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