Which one of the following equation is correct?
A. Owner’s Equity = Liability + Asset
B. Owner’s Equity = Asset – Liability
C. Liability = Owner’s Equity + Asset
D. Asset = Owner’s Equity – Liability
Answer:B
Which one of the following equation is correct?
A. Owner’s Equity = Liability + Asset B. Owner’s Equity = Asset – Liability C. Liability = Owner’s Equity + Asset D. Asset = Owner’s Equity – Liability