The fundamental accounting equation is ________.
a) assets = liabilities + owner's equity
b) owners' earnings = assets - revenues
c) assets = liabilities - owner's earnings
d) liabilities = owners' equity + revenues
Answer: A
a) assets = liabilities + owner's equity
b) owners' earnings = assets - revenues
c) assets = liabilities - owner's earnings
d) liabilities = owners' equity + revenues
Answer: A