Definition of accounting equation
1
: the equality of debits and credits as used in the double-entry system
2
: a statement of net worth as equal to assets minus liabilities
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“Accounting equation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/accounting%20equation. Accessed 25 May. 2022.
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Time Traveler for accounting equation
The first known use of accounting equation was in 1911
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