Accounting for IGCSE & O level - Final Statements (Section 14 - No. 10)
How are the figures of assets, liabilities, and owner's equity in a statement of financial position recorded?
Assets, liabilities, and equity are equal in value.
The assets are on the right-hand side, and liabilities and owner's equity are on the left-hand side.
The assets are on the left-hand side, and liabilities and owner's equity are on the right-hand side.
Equity are on the right-hand side, assets and liabilities are on the left-hand side.
Explanation
The assets are on the left-hand side, and liabilities and owner's equity are on the right-hand side.
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