What Are Assets?
Accounting as a whole is based on a single equation:
The word equation comes from the word equal.
For any equation, one side always equals another. Also, equations can be made out of anything.
For example:1 Orange = $0,50House = Walls + Doors + Windows + Roof1 week = 7 days
So what does the accounting equation mean? Well, in order to answer that question we need to look at what each of the terms in the equation mean...1.
Click below to see questions and solutions on this same topic from other visitors to this page...
Accounting Equation Exercises Q: Tom Jones is the owner and operator of Jones Enterprise, a motivational consulting business. At the end of its accounting period, December 31, 2009, …
MAIN PURPOSE OFACCOUNTING EQUATION Q: WHAT IS THE MAIN PURPOSE OF THIS ACCOUNTING EQUATION?
A: The main purpose of the basic accounting equation is to show the real-life financial …
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