alleryStart learning →Equity (equity plus reserves) is best described as which of these?
ATotal assets of the firm
BTotal liabilities owed
CResidual interest in assets
DFixed assets less loans
Answer & Solution
Correct answer: C. Residual interest in assets
Equity is what remains of the assets once all liabilities have been deducted.
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Related questions
An enterprise controlled by another enterprise is called a what?Consolidated financial statements present a group as what?An enterprise is NOT an associate if it is what?A 40% held associate revalues assets with a surplus of Rs 2,00,000. Adjustment to carryingA 30% associate sold goods to the investor at Rs 50,000 profit, still unsold. Elimination?A Rs 4,00,000 investment has an equity carrying amount of Rs 4,50,000 when influence ends.Unrecognised loss share is Rs 30,000. The investor's share of the next profit is Rs 50,000Rs 8,00,000 buys 40% of an associate with net assets of Rs 15,00,000. What is the goodwill