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What is the difference between Asset, equity, and liabilities?

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What is the difference between Asset, equity, and liabilities?
posted Jul 20, 2017 by Anurag Kashyap

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1 Answer

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The balance sheet reports a company's assets, liabilities, and owner's (or stockholders') equity at a specific point in time. Like the accounting equation, it shows that a company's total amount of assets equals the total amount of liabilities plus owner's (or stockholders') equity.

answer Jul 21, 2017 by Ritika Sharma
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