Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 9 - No. 23)
What is the accounting equation and why is it important?
Assets = Liabilities - Owner's Equity
Assets = Liabilities + Owner's Equity
Assets + Liabilities = Owner's Equity
Owner's Equity = Assets + Liabilities
Explanation
Assets = Liabilities + Owner's Equity.
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