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P1 C5 Accounting Equation and Business Transactions — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C5 Accounting Equation and Business Transactions1 Mark
Question
Explain accounting equation.
✓

Answer

$A = C + L$ is the accounting equation; where $A =$ Assets, $C =$ Capital and $L =$ Liabilities.

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