Accounting for IGCSE & O level - Final Statements (Section 10 - No. 46)
What is the definition of opening equity?
Owner's equity at the end of the accounting year.
The total value of assets at the start of the accounting year.
Owner's equity at the start of the accounting year.
The total amount of capital invested in the business.
Explanation
Opening equity represents the owner's stake at the beginning of the accounting period.
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