Question

what is accounting equation?

Answer 1

The basic accounting equation, also called the balance sheet equation, represents the relationship between the assets, liabilities, and owner's equity of a business.

*It is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits.

* accounting equation 
asset = capital +liabilities 


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Answer 2

Answer:

accounting equation

Explanation:

accounting equation is based on dual aspect concept of accounting Principles the accounting equation shows the relation should between the economic resources of Business and client created against those resources Everytime that can recorded in a books of account of brings about the change in the financial status of the business this is presented in the form of an accounting equation