Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 31 - No. 18)

Which statement about the accounting equation is correct?

Assets - Liabilities = Owner's Equity

Assets + Liabilities = Owner's Equity

Assets = Liabilities + Owner's Equity

Assets = Liabilities - Owner's Equity

The fundamental accounting equation is Assets = Liabilities + Owner's Equity.