Question

what is the basic accounting equation​

Answer 1

DescriptionThe fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, and liabilities 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.

Answer 2

Answer:

The accounting equation shows on a company's balance that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity. ... The liabilities represent their obligations. Both liabilities and shareholders' equity represent how the assets