What is the accounting equation? Define assets, liabilities, and stockholders' equity.
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What is the accounting equation? Define assets, liabilities, and stockholders' equity.
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Find the answer below An accounting equation is a fundamental principle in accounting that represents the relationship between a companys assets liabilities and stockholders equity The equation is expressed as Assets Liabilities Stockholders Equity Heres a breakdown of each component Assets Assets are resources owned by a company that have economic value and can be used to generate future benefits Examples of assets include cash accounts receivable inventory property plant equipment and intangible assets such as patents and trademarks Liabilities Liabilities are obligations that a company owes to external parties such as creditors suppliers and lenders Liabilities represent ...View the full answer
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