In the accounting equation, assets are equal to the combination of Liabilities and equity.
What is Accounting Equation?
An accounting equation or a balance sheet equation represents the relationship between asset, liabilities, and equity such as:
[tex]\rm Assets = Liabilities + Equity[/tex]
It serves as a foundation to a double entry system and ensures dual effects of every transaction.
It is widely used in the preparation of accounts and other purposes.
Therefore the correct option is C.
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