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Marysya12 [62]
3 years ago
13

The accounting equation (Assets 5 Liabilities 1 Equity) is a fundamental business concept. Explain what this equation reveals ab

out a company’s sources and uses of funds and the claims on company resources
Business
1 answer:
Orlov [11]3 years ago
5 0

Answer:

Explanation: The Accounting Equation (Assets= liabilities +Equity) shows the relationship between a company's assets, Liabilities and owners equity which at the end of the day balance out.

Assets reflect the total value of the property that the business has, and which is in its turnover.

Liabilities reflect the size of the financing of an organization’s assets by third parties, banks, and private financial institutions.

Owner's Equity is characterized the value of investments made in this organization by its owner/s (shareholders). It can be said to be Capital plus retained earnings.

The accounting equation can be said to be Assets = liabilities+capital+revenue-expenses -dividend.

this is simply put that assets are totality of a company's liabilities, capital, revenue, expenses and dividend.

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What are the six characteristics of money? explain how the u.s. dollar has those six characteristics?
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1. durability- objects used as money must withstand physical and tear
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5 0
3 years ago
Travis has agreed to invest $16,000 in a partnership with his sister and brother-in-law. He does not intend to actively work in
german

Answer:

D. Limited partner

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Limited partner -

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Hence , from the information of the question ,

Travis is a Limited partner in the given partnership .

6 0
3 years ago
In double entry bookkeeping, where should you record assets?
vekshin1
Hi there :-)

The answer is
A. In the left debits column

Hope it helps
5 0
3 years ago
Read 2 more answers
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