U.S. Chamber of Commerce
U.S. Chamber of Commerce

Accounting equation


Assets = liabilities + net worth. The financial statement called the balance sheet is based on the "accounting equation." Note that assets are on the left-hand side of the equation, and liabilities and equities are on the right-hand side of the equation. Similarly, balance sheets are presented so that assets are on the left, and liabilities and owner's equity are on the right.


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