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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
Stat the meaning of accounting equation.
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Answer

Equation which signifies that the assets of a business are always equal to the total of its liabilities and capital is called accounting equation.

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