Examlex
In a car crash,your chances of being killed are 25 times greater if you are thrown from your vehicle than if your seat belt holds you in the car.
Accounting Equation
The fundamental formula in accounting that represents the relationship between an entity's assets, liabilities, and equity (Assets = Liabilities + Equity).
Liabilities
Financial obligations or debts that a company owes to others, payable in money, goods, or services.
Owner's Equity
Represents the owner’s claims on the assets of a business, calculated as the business’s total assets minus its total liabilities.
Accounting Equation
The fundamental equation of double-entry bookkeeping, reflecting that assets equal liabilities plus owner's equity.
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