For the following questions, circle the best response.
Which of the following is not a correct expression of the accounting equation?
a. Assets = Liabilities + Owners’ Equity.
b. Assets = Liabilities − Owners’ Equity.
c. Assets = Liabilities + Paid-In Capital + Retained Earnings.
d. Assets = Liabilities + Paid-In Capital + Revenues – Expenses.
e. Assets = Liabilities = Owners’ Equity.
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