Accounting Multiple Choice Question – 29 December 2023

The accounting equation can be written as?

Select ONE answer:

1. Assets + profits – drawings – liabilities = closing capital
2. Assets – liabilities – drawings = opening capital + profit
3. Assets – liabilities – opening capital + drawings = profit
4. Opening capital + profit – drawings –liabilities = assets

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

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