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The description of the relation between a company's assets, liabilities, and equity, which is expressed as Assets = Liabilities + Equity, is known as the:
The description of the relation between a company's assets, liabilities, and equity, which is expressed as Assets Liabilities Equity, is known as the:
Multiple Choice
Income statement equation.
Net income.
Accounting equation.
Return on equity ratio.
Business equation.
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