Accounting Equation
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Accounting Equation |
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Description of Accounting Equation. Explanation. |
Definition Accounting Equation. Description.
The Accounting Equation is the foundation of many double-entry accounting systems, which state that assets equal liabilities plus owners' equity.
In other words, the two sides of the equation must always be in balance.
Compare with: Accrual Accounting |
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End of description Accounting Equation. An explanation. |
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