The principle of double entry developed from the axioms of accounting equation is given as

  • A Assets + Liability = Equity
  • B Assets + Equity = Liabilities
  • C Liabilities + Equity = Asset
  • D Liabilities + Equity = Net assets
jamb 2017accounting

The correct answer is C. Liabilities + Equity = Asset

Liabilities + Equity = Asset is given as the fundamental equation

Previous question Next question