DECRETION Definition

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DECRETION is a decrease. See also ACCRETION.

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ACCOUNTING EQUATION is a mathematical expression used to describe the relationship between the assets, liabilities and owners equity of the business model. The basic accounting equation states that assets equal liabilities and owners equity, but can be modified by operations applied to both sides of the equation, e.g., assets minus liabilities equal owners equity.

ACCOUNTING EVENT is when the assets and liabilities of a business increase/decrease or when there are changes in owners equity.

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