Question

what relationship exist between the position of an account on the balance sheet

Answer 1

Answer:

Assets are located on the left side of the balance sheet equation; an increase in an asset account is recorded by an entry on the left (or debit) side of the account.

Explanation:

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Answer 2

The accounting equation is one of the most fundamental accounting principles that explains the notion behind why a trial balance always balances to $0. The accounting equation shows that the total assets will always equal the sum of liabilities and equity.

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