Balance sheet is an expanded form of accounting equations explain the statement
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Balance Sheet is the expanded form of accounting equations, because the accounting equation consists of all the assets equals to Liabilities plus Owner's equity + Profit - Expenses - Drawings (if any). And hence, After calculating from Trading A/c and P/L A/C, Balance Sheet gives the expanded form of accounting equation, considering all Relevant monetary transactions.
Assets= Liability + Owner's Equity.
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Answer: BECAUSE BALANCE SHEET SHOWS THE CURRENT FINANCIAL SITUATION OF THE COMPANY ALL THE TANGIBLE AND INTANGIBLE AS WELL AS ALL THE CURRENT AND NON CURRENT ASSETS AND LIABILITIES ARE MENTIONED IN THE BALANCE SHEET
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