CTA Accounting CBE Practice Questions - CTA Computer Based Examination - Principles Of Accounting Exam

Under the accounting equation used in the Principles of Accounting CBE, which restatement is correct for a sole trader?

Assets − Liabilities = Capital + Profits − Drawings Assets + Liabilities = Capital − Profits + Drawings Assets = Capital − Liabilities − Profits Liabilities − Assets = Capital + Drawings

Correct Answer:

Assets − Liabilities = Capital + Profits − Drawings

Access more questions from this quiz

Continue to CTA Accounting CBE Practice Questions - CTA Computer Based Examination - Principles of Accounting Exam for more practice questions and the full quiz experience.

Access More Questions