Question 15: In which financial statement is the accounting equation displayed? Answer:   A.    Income statement     B.    Statement of owner's equity     C.    Balance sheet     D.    Statement of cash flows

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is