The account format lists assets on the left side and liabilities and stockholders' equity on the right side of the statement.

Name: The account format lists assets on the left side and liabilities and stockholders' equity on the right side of the statement.
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Question

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The account format follows the basic accounting equation of Assets = Liabilities + Stockholders' Equity, with assets listed on the left side and liabilities and stockholders' equity listed on the right side.

The Account Format Lists Assets on the Left Side and Liabilities