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Extended Accounting Equation Explained by hamisah is a document available to read on EtoBox.
This chapter discusses the accounting equation and accounting classification. The basic accounting equation is Assets = Capital + Liabilities, showing the equality between assets owned and the sources of funds. The chapter also describes how transactions affect the accounting equation and introduces the expanded accounting equation. Accounting classification divides accounts into assets, liabilities, capital, revenues and expenses.
- Author
- hamisah
- Language
- EN