Question

QI What is an accounting equation? What are its rules?​

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.

Explanation:

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Answer 2

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. This concept is part of the theoretical foundation behind double-entry bookkeeping, and forms the basis for how investors and accountants interpret and analyze financial statements.