The left hand side which is also known as assets side of the equation shows which of the following?
The resources owned by the business
Liabilities of the business
Capital introduced in the business
The sources of fund used to acquire the resources
The left hand side (also known as assets side) of the equation shows the resources owned by the business.
State True or False: The resources owned by a business entity which give future benefits are called assets.
Which statement shows the increase and decrease in various assets, liabilities and capital in two or more balance sheets of the same business enterprise on different dates?