Question

explain, in short,the meaning of Accounting Equation.​

Answer 1

Answer:

The accounting equation is the proposition that a company's assets must be equal to the sum of its liabilities and equity. Phrased differently, it means that the equity of a company is equal to its assets minus its liabilities.

                                                      &/or

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.

Explanation:

You can take the help of the given picture to understand.

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