The basic accounting equation states that Assets = Liabilities.?

Question

This is true right

Answer 1

Assets = Liabilities + Owner's Equity

Answer 2

noooooo

The basic accounting equation states the following:

Assets = Liability + Owner's Equity

Just remember that if something changes the left side, you better make the appropriate changes to the right. The equation has to be balanced at all times. NO EXCEPTIONS.

Answer 3

Almost..the statement is:

Assets = Liabilities plus Owner's Equity