what is fundamental accounting principle?

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in the book keeping side

2006-08-29 02:23:01 · 3 answers · asked by angalkuduru 1 in Education & Reference ➔ Financial Aid

Assets + Liabilities = Owner Equity

A+L=O

2006-08-29 02:28:31 · answer #1 · answered by MARY L 5 · 0⤊ 0⤋

Mary L was close but it's Assets=Liabilties + Owner's/Stockholder's Equity....you don't want to mix that up!

2006-08-29 02:47:53 · answer #2 · answered by blvdblonde 2 · 0⤊ 1⤋

Dr. always equals Cr.

2006-08-29 02:30:11 · answer #3 · answered by suprkb 2 · 0⤊ 0⤋