why Balance sheet tally, why the Liabilities and Assets
will always equal.(for a business man how does it helpful,
if liabilities and assets are equal)?????
Hope I will get the accurate answer
Thanks in Advance.
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Answer Posted / jagruti s.
This is because of Double Entry System of Accounting.In
Double Entry System,each transaction of business is
recorded giving equal effect to Debit and Credit sides of
Account.In other words,each transaction effects two or more
A/c(s) with equal Dr. and Cr. and so Ballance sheet tally
and the liabilities and assets will always equal.
| Is This Answer Correct ? | 8 Yes | 1 No |
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