The accounting equation is ASSETS LIABILITIES OWNERS EQUITY. Property ASSETS Items of value owned by the business
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The accounting equation is ASSETS LIABILITIES OWNER’S EQUITY.
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Property ASSETS Items of value owned by the business || Financial Claims LIABILITIES Financial claims of creditors OWNER'S EQUITY Financial claims of owners
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The accounting equation states that a companys total assets are equal ...View the full answer
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The accounting equation is a formula that shows the sum of a company\\\'s liabilities and shareholders\\\' equity are equal to its total assets (Assets = Liabilities + Equity). The clear-cut relationship between a company\\\'s liabilities, assets, and equity is the backbone of double-entry bookkeeping.
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