Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 34 - No. 17)
Which of the following is the best definition of owner's equity?
The total amount of a company's debts.
The owner's claim on the assets of the business.
The cash balance of the company.
The difference between the company's revenue and expenses.
Explanation
Owner's equity represents the owner's stake in the business assets.
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