Examlex
Is the following transformation representative of a physical change or a chemical change?
Accounting Equation
The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Owner's Equity.
Liabilities
Financial obligations or debts owed by a business to others, which can include loans, accounts payable, mortgages, and other monies owed.
Total Assets
The sum of all current and non-current assets owned by a company, as reflected in its balance sheet.
Stockholders' Equity
The portion of a corporation’s assets that remains after deducting debts, which indicates an equity interest.
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