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Multiple Choice Question Which of the following statements best represents the reason for the accounting...

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Accounting

Multiple Choice Question
Which of the following statements best represents the reason for the accounting equation?
The equation monitors the legal agreements made with creditors and what is owed to them at any point in tim?
The total of everything owned by a business must always equal the total of what the business owes to creditors and owners.
The equation may sometimes be out of balance at the end of a year.
The owners' rights are equal to the creditors' rights.
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