Q2: Which statement best explains Accounting equation? | UPSC EPFO APFC 2026

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Which statement best explains Accounting equation?

Practice this MCQ with options, instant answer checking, explanation, exam-wise filters, next/previous navigation and shareable result image.

Question ID #25860

Which statement best explains Accounting equation?

Correct Answer: C. Assets = Liabilities + Equity

Question: Which statement best explains Accounting equation?

A. Depreciation method applying a rate to the carrying amount of an asset

B. Expense incurred but not yet paid

C. Assets = Liabilities + Equity

D. Depreciation method charging an equal amount each year, subject to residual value

Correct Answer: C. Assets = Liabilities + Equity

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Which statement best explains Accounting equation? - MCQ Explanation

This question is useful for exam preparation because it provides direct multiple-choice practice with options, answer checking and explanation.

Correct answer: C. Assets = Liabilities + Equity