Accounting for IGCSE & O level - Accounting Procedures (Section 19 - No. 48)
What is the accounting equation?
Assets = Liabilities - Owner's Equity
Assets + Liabilities = Owner's Equity
Assets = Liabilities + Owner's Equity
Assets = Owner's Equity - Liabilities
Explanation
The fundamental equation representing the relationship between assets, liabilities, and owner's equity.
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