The accounting equation Assets = Liabilities + Equity is illustrated by the profit-and-loss financial statement.

Name: The accounting equation Assets = Liabilities + Equity is illustrated by the profit-and-loss financial statement.
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The accounting equation Assets = Liabilities + Equity is illustrated by the balance sheet, not the profit-and-loss statement. The profit-and-loss statement (also known as the income statement) shows a company's revenues and expenses over a period of time.

The Accounting Equation Assets = Liabilities + Equity Is Illustrated