which of the following is equal to total assets minus total liabilities? income net worth equity
which of the following is equal to total assets minus total liabilities? income net worth equity
Answer
Brief Explanations:
In accounting, the accounting - equation is Assets = Liabilities+Equity. Rearranging it gives Equity = Assets - Liabilities. Net - worth is also calculated as Total Assets minus Total Liabilities, especially for individuals or non - corporate entities. Income is the money received, which is not related to this calculation.
Answer:
B. net worth, C. equity