O-LevelAccountingThe fundamentals of accounting7707/12 · Oct/Nov 2021 · Q21 Mark
Which formulas may be used for the accounting equation? 1 assets = owner's equity minus liabilities 2 liabilities = assets minus owner's equity 3 owner's equity = assets plus liabilities 4 owner's equity plus liabilities = assets
A1 and 2
B1 and 3
C2 and 4
D3 and 4
✓ Correct answer
C: 2 and 4
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