The accounting equation is assets = liabilities stockholders' equity. accounts on the right side of the equal sign in this equation are increased with:________

The account on the right side of the equals sign in this equation is added to the debit.

The financial position of any business, large or small, is based on two main components of the balance sheet: assets and liabilities. Owner's equity, or shareholder's equity, is the third part of the balance sheet.

The accounting equation is a representation of how these three important components are interrelated.

Assets represent valuable resources controlled by the company, while liabilities represent its liabilities. Both liability and shareholder equity represent how the company's assets are financed. If it is financed through debt, it will be seen as a liability, but if it is financed through the issuance of equity shares to investors, it will be seen in shareholder equity.

The accounting equation helps to assess whether the business transactions carried out by a company are accurately reflected in its books and accounts.

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Use the P-L-O-C functions of management to list what is to happen in each step of your task, from beginning to the end. Be sure to work efficiently
and effectively. Think back to the example I gave in class about painting the room. Choose a task, the put the 4 functions of management to work to create your plan of action.