# In what ways are entrepreneur useful to suppliers

• Réponse publiée par: kenn14

they will seek new product so that supplier will be innovative to provide more to their customer.

• Réponse publiée par: joviecar
DUAL EFFECT IN ACCOUNTING EQUATION

Double Entry bookkeeping: Comes from two sides of an equation:

PROPERTY= OWNERSHIPAccounting Values or Elements

A. Assets: defined as the economic resources which are owned by a business and are expected to benefit future operations.

B.Liabilities: debts or financial obligations of the business to its creditors and refer to the claims of creditors and refer to claims of creditors against the assets of the business.

C.Owner’s Equity-Known as the right or claims of the owner over the assets of the business.

Account: an accounting device used in summarizing the changes in the assets, liabilities and owner’s equity account caused by business transactions and events.

Ledger: Means group of accounts: it refers also to the book where the accounts are kept.

T-Accounts:  This consists of two lines, one vertical and one horizontal, and resembles the letter T. The title of the account is written on the horizontal, ( Top) line. Increases and decreases in the account are entered on the different sides of the vertical line.

Name of the Account                            Account No.

Left Side          Right Side

Debit Side    Credit Side

Value Received                  Equals Value Parted with

What is the accounting equation? read more on:

What is the basic accounting equation read more on:

• Réponse publiée par: kenn14

Subject Economics

The correct answer among the various given choices is letter d. Adding total liabilities to total assets results in equity is not a true statement. It should be subtracting total liabilities to total assets results in the value of equity.

Elements of Accounting Equation

There are 3 main categories of accounting equation that is found in the balance sheet of a company:

AssetsLiabilitiesOwners' Equity / Shareholders Equity / Stockholders Equity

The accounting equation formula is;

Assets = Liabilities + Owner's Equity

Further topics about assets and liabilities

What is the opposite of assets

For related topics about accounting equation

Code:  11.11.3.8.

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