The principle of double entry developed from the axioms of accounting equation is given as?

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A. Assets + Liability = Equity
B. Assets + Equity = Liabilities
C. Liabilities + Equity = Asset
D. Liabilities + Equity = Net assets

Correct Answer:

Option C – Liabilities + Equity = Asset

Explanation

Liabilities + Equity = Asset is given as the fundamental equation

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