The total of the amount of assets that a business possesses may or may not be equal to the total of liabilities and equity of the business.

Name: The total of the amount of assets that a business possesses may or may not be equal to the total of liabilities and equity of the business.
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In accounting, the accounting equation states that assets must always equal the sum of liabilities and equity. This is a fundamental principle of the balance sheet.

The Total of the Amount of Assets That a Business