Accountancy, asked by shriyanshjain06, 7 months ago

Explain accounting equation. (ans needed for 4 marks)

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Answered by sushumna47

0

Answer:

The fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a person or business. It is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.

Answered by 94311shaliendra54644

0

Answer:

The fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a person or business. It is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.

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