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Question
Which of the following is true of accounting equation?A. It is used to place records into understandable categories that are useful for managing a business.
B. It assumes that a successful business will stay in business and this enables long-range planning and strategy.
C. It underlies the legal forms of establishing businesses, such as corporations, limited partnerships, and limited liability companies.
D. It ensures that accounting information is useful to the firm's stakeholders.
Answer
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