Question

please describe kinds of accounting equation???​

Answer 1

Explanation:

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.

Answer 2

The accounting equation is also called the basic accounting equation or the balance sheet equation. While assets represent the valuable resources controlled by the company, the liabilities represent its obligations. Both liabilities and shareholders' equity represent how the assets of a company are financed.