Question

what do you mean by accounting equation? state its feature.​

Answer 1

Hello Mate,

The accounting equation is a basic principle of accounting and a fundamental element of the balance sheet. The equation is as follows:

Assets = Liabilities + Shareholder’s Equity

Hope this helps you

Answer 2

Answer:

Definition: The accounting equation or balance sheet equation forms the building blocks for the entire double entry accounting system. It shows that every asset owned by the company is equal to the claims (liabilities and equity) against the asset. The accounting equation looks like this. Asset = Liabilities + Equity.

I HOPE THIS HELPS YOU

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