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Explain accounting equations ?

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Jun 22 at 20:14:2
Ashiq
Ashiq
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The accounting equation is used in double-entry accounting system.

It shows the relationship between any one business's assets liabilities & equity by using the accounting equation.

The second name of accounting equation is also called the balance sheet equation.

The formula

A = L + OE L

A for Assets

L for Liabilities

OE Owners equity


Assets = Liabilities + Owner's Equity
Jun 22 at 20:20:21
Adnan
Adnan
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