Under Double Entry Accounting System, sum of all assets is always …………….
A. equal to sum of all liabilities.
B. equal to sum of capital.
C. equal to sum of capital and liabilities.
D. equal to difference of capital and liabilities.
Answer:C
Under Double Entry Accounting System, sum of all assets is always …………….
A. equal to sum of all liabilities. B. equal to sum of capital. C. equal to sum of capital and liabilities. D. equal to difference of capital and liabilities.