Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 12 - No. 2)

What is the basic accounting equation?

Assets + Liabilities = Equity

Assets = Liabilities + Equity

Assets - Liabilities = Equity

Assets = Equity - Liabilities

Explanation

The basic accounting equation is Assets = Liabilities + Equity. It shows the relationship between a company's resources, obligations, and ownership stake.

Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 12 - No. 2)

Explanation

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