Question

what is accounting equation ✌️
what are its merits ​

Answer 1

Answer:

It helps ensure that debits and credits are recorded accurately. Beyond this, however, it helps to measure how profitable your business is. The accounting equation is the foundation of your company's balance sheet, which expresses your business's assets, liabilities, and owner's or shareholder's equity in detail.

Merits and Demerits of Accounting. Some of the advantages of accounting are Maintenance of business records, Preparation of financial statements, Comparison of results, Decision making, Evidence in legal matters, Provides information to related parties.

Answer 2

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⭐It helps ensure that debits and credits are recorded accurately. Beyond this, however, it helps to measure how profitable your business is. The accounting equation is the foundation of your company's balance sheet, which expresses your business's assets, liabilities, and owner's or shareholder's equity in detail.