Question

What is Accounting Equation ​

Answer 1

ɪᴛ ɪꜱ ᴀʟꜱᴏ ᴄᴀʟʟᴇᴅ ʙᴀʟᴀɴᴄᴇ ꜱʜᴇᴇᴛ ᴇQᴜᴀᴛɪᴏɴ, ɪᴛ ʀᴇᴘʀᴇꜱᴇɴᴛꜱ ᴛʜᴇ ʀᴇʟᴀᴛɪᴏɴꜱʜɪᴘ ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ ᴀꜱꜱᴇᴛꜱ ʟɪᴀʙɪʟɪᴛɪᴇꜱ ᴀɴᴅ ᴏᴡɴᴇʀ'ꜱ ᴇQᴜɪᴛʏ ᴏꜰ ᴀ ᴘᴇʀꜱᴏɴ ᴏʀ ʙᴜꜱɪɴᴇꜱꜱ. ɪᴛ ɪꜱ ᴛʜᴇ ꜰᴏᴜɴᴅᴀᴛɪᴏɴ ꜰᴏʀ ᴛʜᴇ ᴅᴏᴜʙʟᴇ-ᴇɴᴛʀʏ ʙᴏᴏᴋ ᴋᴇᴇᴘɪɴɢ ꜱʏꜱᴛᴇᴍ.

Answer 2

Answer : -

the fundamental accounting equation also called the Blance sheet equation, represents the relationship Between assets , liabilities, owners 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 .