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Which of the following is not a component of the accounting equation?

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Question: Which of the following is not a component of the accounting equation?

Options:

  1. Assets
  2. Liabilities
  3. Equity
  4. Revenue

Correct Answer: Revenue

Solution: 

Revenue is not a component of the accounting equation; the equation is Assets = Liabilities + Equity.

Which of the following is not a component of the accounting equation?

Practice Questions

Q1
Which of the following is not a component of the accounting equation?
  1. Assets
  2. Liabilities
  3. Equity
  4. Revenue

Questions & Step-by-Step Solutions

Which of the following is not a component of the accounting equation?
  • Step 1: Understand the accounting equation, which is Assets = Liabilities + Equity.
  • Step 2: Identify the components of the accounting equation: Assets, Liabilities, and Equity.
  • Step 3: Recognize that Revenue is not listed as one of the components of the accounting equation.
  • Step 4: Conclude that Revenue is the correct answer to the question, as it is not a component of the accounting equation.
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