Asked by Hayden Molokach on Apr 28, 2024
Verified
The left side of the accounting equation must always be greater than the right side of the equation.
Accounting Equation
Represents the foundation of double-entry bookkeeping, stating that assets equal liabilities plus owners' equity.
- Become acquainted with the essential elements of the accounting equation (Assets = Liabilities + Owner's Equity).
Verified Answer
EJ
Emmanuela JosephMay 01, 2024
Final Answer :
False
Explanation :
The accounting equation states that assets (left side) must equal liabilities plus equity (right side), not be greater than.
Learning Objectives
- Become acquainted with the essential elements of the accounting equation (Assets = Liabilities + Owner's Equity).