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12345 [234]
3 years ago
13

What is the basic equation of an income statement? Select one: a. Assets = Revenues – Expenses b. Net income or loss = Revenues

– Expenses c. Assets = Liabilities + Equity d. Equity = Cash inflows – Cash outflows
Business
1 answer:
Mashutka [201]3 years ago
7 0

Answer:

c. Assets = Liabilities + Equity

Explanation:

Assets = Liabilities + shareholders equity is also known as the balance sheet equation.

It is the basis for the double-entry bookkeeping system

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