Define accounting equation. briefly?

Question

Answer

Accounting equation

an equation showing the relationship among assets, liabilities, and owner??s equity

Answer

For showing relation between assets and capital and liability

Answer

It's a type of equation which generally represents the relationship between the assets, liabilities, and owner's equity of a business.....It is the foundation for the double-entry of  book keeping system.....In other way you can say it....a way to relate owner and assets calculation.

Answer

Accounting equation..is basically ..a system related ..to accounting ..principles..

Answer

The basic accounting equation is also called ' Balance Sheet Equation represent the relationship betweenthe assets , liabilities and owner's equality of a business. lt is the foundation for the double- entry bookkeeping system.

Answer

Accounting equation approach depicts that, effect of every accounting transaction is within three heads, viz., Assets, Liabilities & shareholders Equity.   It also states that Total assets = Total Liabilities, For which, it has a proven formula: Assets = Liabilities + shareholder equity.

Answer

Accounting equation is sum total of liabilities and capital to make assets known as accounting equation.

formula:-

assets=liabilities + capital
thank you!

Answer

Assets= Capital +liabilities

Answer

Asset =Capital+Liabilities

Answer

Accounting equation is based on double entry system that is ASSET = LIABILITY + CAPITAL

Answer

The equation that is the foundation of double entry accounting. The accounting equationdisplays that all assets are either financed by borrowing money or paying with the money of the company's shareholders. Thus, the accounting equation is: Assets = Liabilities + Shareholder Equity.

Answer

Represents the relationship between the assets, liabilities, and owner's equity of a business. It is the foundation for the double-entry bookkeeping system.

Answer

Assets is equal to laibility plus capital

Answer

Accounting is an art of recording classifying and summarizing in a significant manner and in terms of money transactions and events that at least are part of in financial character and interpreting the results thereof.

Answer

In accounting equation assets= liabilities

Answer

C+l= A

Answer

Answer

Accounting equation states that always Assets of the firm will be equal to its sum of Capital and liabilitiesASSETS = LIABILITIES + CAPITALunder this concept balance sheet of a firm is tallied

Answer

It is term or a way through we know terms of accounts i.e assets , credit, debit, liability, instalment.etc

Answer

The accounting equation is considered to be the foundation of the double-entry accounting system. The accounting equation shows on a company's balance sheet whereby the total of all the company's assets equals the sum of the company's liabilities and shareholders' equity.
Based on this double-entry system, the accounting equation ensures that the balance sheet remains “balanced,” and each entry made on the debit side should have a corresponding entry (or coverage) on the credit side.

Similar Commerce Doubts

Define accounting.?

Define accounting and explain the meaning class 11?

Define accounting. name the objective of accounting Related: Branches(Sub-Disciplines) of Accounting?

Describe briefly the types of accounting?

Define Accounting what are the objectives of accounting explain different branches of accounting?

Top Courses for CommerceView all

Chapter Notes for Commerce

Economics Class 12

Economics Class 11

NCERT Books & Solutions for Commerce

Economics for CBSE Class 12 Board Examinations

Top Courses for Commerce

Top Courses for Commerce

Suggested Free Tests

Related Content

Commerce Courses

Other Courses

How To Prepare?

Related Exams

Company