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Which financial statement represents the accounting equations


ASSETS = LIABILITIES + OWNER’S EQUITY 

  • a)
    Income Statement 

  • b)
    Cash Flow Statement 

  • c)
    Balance Sheet 

  • d)
    Funds Flow Statement 

Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which financial statement represents the accounting equationsASSETS = ...
The financial statement that represents the accounting equation (Assets = Liabilities + Owner’s Equity) is: C: Balance Sheet
The balance sheet is designed to show a company's financial position at a specific point in time and directly reflects the accounting equation by listing all assets, liabilities, and the owner’s equity.
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Community Answer
Which financial statement represents the accounting equationsASSETS = ...
The financial statement that represents the accounting equation is the Balance Sheet. The balance sheet shows the assets, liabilities, and owner's equity of a business at a specific point in time. The formula Assets = Liabilities + Owner's Equity is the fundamental equation that the balance sheet is based on.
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Which financial statement represents the accounting equationsASSETS = LIABILITIES + OWNER’S EQUITYa)Income Statementb)Cash Flow Statementc)Balance Sheetd)Funds Flow StatementCorrect answer is option 'C'. Can you explain this answer?
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