Question

Define accounting eqution.​

Answer 1

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The accounting equation shows on a company's balance that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity. ... Both liabilities and shareholders' equity represent how the assets of a company are financed

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Answer 2

Answer:

Explanation:

The Accounting Equation is based on the double entry accounting, which says that every transaction has two aspects, debit and credit, and for every debit there is equal and opposite credit. It helps to prepare a balance sheet, so it is also called the Balance Sheet Equation.