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Math

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what is the inherent relationship between accounting equations and rules for debit and credit

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MrsBransongo MrsBransongo

Answer:

The meaning of debit and credit will change depending on the account type. Debit simply means left side; credit means right side. Remember the accounting equation? ASSETS = LIABILITIES + EQUITY The accounting equation must always be in balance and the rules of debit and credit enforce this balance.

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Torichgo Torichgo

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