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Accounting Fundamentals: Assets Liabilities + Owners' Equity
Accounting Fundamentals: Assets Liabilities + Owners' Equity
Accounting Fundamentals: Assets Liabilities + Owners' Equity
Assets = Liabilities +
Owners’ Equity
•Assets are those things of monetary value
that the firm possesses.
•Liabilities are those things of monetary
value that the firm owes to its creditors.
•Owners’ Equity is the worth of what the
firm owes to its stockholders.