Question

what is basic accounting eqation? explain
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Answer 1

Answer:

The accounting equation is also called the basic accounting equation or the balance sheet equation. While assets represent the valuable resources controlled by the company, the liabilities represent its obligations.

Both liabilities and shareholders' equity represent how the assets of a company are financed.

Explanation:

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Answer 2

The accounting equation is also called the basic accounting equation or the balance sheet equation. While assets represent the valuable resources controlled by the company, the liabilities represent its obligations. Both liabilities and shareholders' equity represent how the assets of a company are financed.