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What are the basic elements of accounting and their meaning?
Lhyncuatrona
The basic elements of accounting are assets liabilities and capital and they all have meaning. Assets are the resources that a company owns and utilizes for the business. Liabilities are simply obligations or debts that the company owes. Capital on the other hand is the money that is invested in the business in order to generate revenue.
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3 basic accounting elements?
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Do the basic elements of financial accounting apply to all businesses?
hire purchase system
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