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1 year ago

Which of the following statements explain(s) how the accounting equation applies to business?( check all the apply)

Business

1 answer:

JulijaS [17]1 year ago

5 0

The statements that explain how the accounting equation applies to business are:

The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.
The equation applies to all monetary business transactions.
The relation of assets, liabilities and equity is reflected in the equation.
The equation states that Assets = Liabilities +Equity

<h3>How does the accounting equation apply in business?</h3>

The accounting equation is given as:

Assets = Equity + Liability

This shows that everything that a business owns (assets) is only acquired thanks to the amounts that the owners ( equity) and creditors (liability) give.

It also shows how assets, liabilities and equity are related and therefore applies to all the monetary transactions in the business as it shows how the cash is affected when it is spent or received.

Find out more on the accounting equation at brainly.com/question/24401217

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Read 2 more answers

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olasank [31]

Answer:

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Explanation:

The true statement is that compound interest will lead to a larger sum of money than a comparable simple interest payment because the interest are compounded for a certain number of times such as daily, weekly, quarterly or annually while simple interest isn't compounded at all.

To find the future value, we use the compound interest formula;

$A = P(1 + \frac{r}{n})^{nt}$

Where;

A is the future value.

P is the principal or starting amount.

r is annual interest rate.

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t is the number of years for the compound interest.

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Racing Motors wants to save $825,000 to buy some new equipment three years from now. The plan is to set aside an equal amount of

Salsk061 [2.6K]

Answer:

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Explanation:

We have to solve for the annuity-due future value installment

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