What does the balance sheet measure? What is the “Accounting Equation” used in a balance sheet?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 2Q: State the accounting equation, and explain what each part represents.
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  1. What does the balance sheet measure? What is the “Accounting Equation” used in a balance sheet?
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