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Question

Which of the following statements is true about the accounting equation?

A The accounting equation represents that the sources in a business are not equal to the resources of that business Correct Answer Incorrect Answer
B The accounting equation represents that the sources in a business are equal to the resources of that business Correct Answer Incorrect Answer
C The accounting equation represents that the resources are allocated to the business at cost price Correct Answer Incorrect Answer
D None of the above Correct Answer Incorrect Answer

Solution

The correct answer is B

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