which of the following is a symbolical representation of the balance sheet? assets = liabilities +…

which of the following is a symbolical representation of the balance sheet? assets = liabilities + shareholders equity expenses = liabilities + net equity revenue - expenses = net income

which of the following is a symbolical representation of the balance sheet? assets = liabilities + shareholders equity expenses = liabilities + net equity revenue - expenses = net income

Answer

Brief Explanations:

The balance sheet is a financial statement that shows a company's financial position at a specific point in time. The fundamental accounting equation, which is the basis of the balance sheet, is ( Assets = Liabilities + Shareholder's Equity ). This equation represents the relationship between what a company owns (assets), what it owes (liabilities), and the residual interest of its owners (shareholder's equity). The other options are incorrect: ( Expenses = Liabilities + Net Equity ) is not a valid accounting equation, and ( Revenue - Expenses = Net Income ) is the formula for the income statement, not the balance sheet.

Answer:

Assets = Liabilities + Shareholder's Equity