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The basic idea in accounting is that the total wealth of a company

01 / 10 / 2021 Assignments

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The basic idea in accounting is that the total wealth of a company

The basic idea in accounting is that the total wealth of a company is called assets. There are two possible claims on assets, which are called liabilities and equity. Liabilities and equity together always equal the assets. Express this concept as an equation using the letters A for assets, L for liabilities and E for equity



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