Question

What is the accounting equation? Question 2 options: assets = liabilities + owner's equity assets + liabilities = owner's equity liabilities = assets + owner's equity assets = liabilities – owner's equity

Answer 1

The accounting equation is: Assets = Liabilities + Owner's Equity.

What is  accounting equation?

Accounting equation can be defined as the equation that  shows that the assets equal the value of a  company's liabilities plus Owners ' equity.

The accounting equation is important as it help to ensures that entries are correctly record into a company or an organizations books  and it help to show the relationship between liability and asset.

Therefore the accounting equation is: Assets = Liabilities + Owner's Equity.

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