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State The Accounting Equation And Define Its Component?

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Anonymous answered
Assets = Liabilities + Owners' Equity.
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Karl Sagan answered

Well, the three elements of the accounting equation are assets, liabilities, and shareholders' equity, so it's assets = liabilities + equity. In general, when you start running a business, it stops being so complicated, but you start to face other problems. You can click here if you're interested in reducing paperwork, I'm sure you'll find it beneficial.

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