Which of the following equations properly represents a derivation of the fundamental accounting equation?
(1) Assets + Liabilities = Owner Equity
(2) Asset = Owner Equity
(3) Cash = Assets
(4) Assets - Liabilities = Owner Equity
A. Only (1)
B. Both (1) and (2)
C. All (1), (2), (3), (4)
D. None of these
Answer: Option D
This Question Belongs to Commerce >> Miscellaneous In Commerce
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