BASIC TENETS OF ACCOUNTING Definition

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BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).

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CENTAVO is a currency of Mexico and many Central and South American countries, Cape Verde, Philippines etc.

EQUITY is, normally, ownership or percentage of ownership in a company or items of value.

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