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According to the status characteristics theory, what are the three sources of status?
Total Assets
The complete sum of everything a company owns or controls that has economic value, shown on the balance sheet.
Owner's Equity
Owner's equity is the residual interest in the assets of the entity after deducting liabilities, representing what the owners or shareholders own outright.
Total Liabilities
The combined amount of all debts and other financial obligations owed by an entity at a given time.
Liabilities
Financial obligations owed by a business to others, such as loans, accounts payable, and mortgages, which must be paid in the future.
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