Ask Question
BusinessBusiness
24 July, 01:08

The equation best describing the balance sheet is:

A. Revenues - Expenses = Net Income.

B. Ending Retained Earnings + Dividends = Net Income.

C. Assets = Liabilities + Stockholders' Equity.

D. Revenues + Expenses = Net Income.

+1
Answers (1)
  1. 24 July, 01:28
    0
    Answer: Option C

    Explanation: Balance sheet refers to the financial statement that shows the assets and liabilities of an entity for a single year.

    It is based on the assumption that all the assets owned by an entity are either funded from the owners capital or a liability is incurred to procure them. Thus, the amount of assets will always be equal to the sum of capital funds and liabilities of the entity.

    Hence from the above we can conclude that the correct option is C.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The equation best describing the balance sheet is: A. Revenues - Expenses = Net Income. B. Ending Retained Earnings + Dividends = Net ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What does haute couture refer to? a. Repetitive stitching on the button tabs and pockets demonstrate excellence in workmanship, characteristic of the haute couture level of the fashion industry. b.
Answers (1)
Determine the two factors that are imporant in making the principle of "compounding" work.
Answers (1)
Which phrase best defines the liquidity of money? how divisible money is how many denominations money has how scarce the supply of money is how available money is to spend?
Answers (2)
A state or local government is reported as a special-purpose government if it select one: a. is not a legally separate entity. b. is engaged in one governmental program. c. has governmental and business-type activities. d.
Answers (1)
Households: a. are the largest purchasers of resources. b. supply goods and services. c. play a very minor role in an economy. d. set the price for goods. e. own and sell resources.
Answers (1)
New Questions in Business
An audience is first asked to write the last 2 digits of their social security number, and, second, to submit mock bids on items such as wine and chocolate.
Answers (1)
Which of the following statements is false? Multiple Choice Prepaid insurance is a deferred expense. Prepaid insurance represents a future economic benefit. Prepaid insurance is shown on the income statement.
Answers (1)
Under which conditions is price elasticity of supply relatively elastic or relatively inelastic? 1. Firms are operating in the short run 2. Firms would have a hard time storing their goods 3. Firms have a large amount of excess capacity 4.
Answers (1)
Maurice bought 25 shares of stock at $9.85 per share and sold them for $11.22 per share. What was his perchase price
Answers (1)
Where does money come from
Answers (2)
Home » Business » The equation best describing the balance sheet is: A. Revenues - Expenses = Net Income. B. Ending Retained Earnings + Dividends = Net Income. C. Assets = Liabilities + Stockholders' Equity. D. Revenues + Expenses = Net Income.
Sign Up Forgot Password?