ACCA FA practice questions with explanations
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Worked question
A business has assets of €82,000 and liabilities of €31,000. What is its equity?
- A. €31,000
- B. €51,000
- C. €82,000
- D. €113,000
Answer: €51,000
The accounting equation is assets = equity + liabilities. Equity is therefore €82,000 minus €31,000, which equals €51,000.
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