Inventory Accounting Question:
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Which are the elements of the accounting equation?
Answer:
The elements of accounting are Assets, Liabilities, and Owner Equities.
The way to remember this would be through the acronym ALOE
The accounting equation is Assets = Liabilities + Owners' Equities
The way to remember this would be through the acronym ALOE
The accounting equation is Assets = Liabilities + Owners' Equities
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