WAEC Accounting 2015 Objective — Question 14
Question 14 of 50 from the West African Examinations Council (WAEC) Accounting 2015 Objective paper, with the correct answer and a full explanation.
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Which of the following expresses the accounting equation?
- A. Capital + assets = liabilities
- B. Assets - liabilities = capitalCorrect
- C. Capital + Current Assets = Fixed Assets
- D. Liabilities - Capital = Current Assets
Explanation
The accounting equation is Assets = Capital + Liabilities, which rearranges to Capital = Assets − Liabilities.
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