under iFRS, not allowed ob b/s? a. A=L+E b.A-L=e c.A-E=L D. NONE

Question

Question

under iFRS, not allowed ob b/s?

a. A=L+E

b.A-L=e

c.A-E=L

D. NONE

Answer 1

Answer #1

Answer is Option D) None

Assets is always = Liabilities plus Equity

This is the fundamental equation of Accounting based on which other equations can be derived

Above equation can be set in different ways to get desired results.

So Assets - Liabilities = Equity

Assets- Equity = Liabilities

So overall results will be same Assets= Liabilities plus Equity

Hence first 3 options are correct and Option d) is the answer

Answer 2

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