Accounting · Accounting Equation
The entire system of double-entry bookkeeping is based on the fundamental accounting equation:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Assets = Liabilities - Capital
- 2Gross Profit = Net Sales - Cost of Goods Sold
- 3Capital = Assets - Liabilities✓
- 4Net Profit = Gross Profit - Operating Expenses
Correct answer
Capital = Assets - Liabilities
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