Assets are resources with future benefits that are owned or controlled by a company.
Liabilities are what a company owes its creditors in future products or services.
Equity refers to the claims of its owner(s).
Forms of funds=Sources of funds
What resources does the firm have? (Assets) = Where do those resources come from? (Liabilities and Equity)
A firm acquires assets by funds. Liabilities and equity are the sources of funds to acquire those assets.