The Residual Claim on Total Assets of a Business Is

question 38

Short Answer

The residual claim on total assets of a business is known as ________________ and is equal to total assets minus total liabilities.

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Definitions:

Splitters

Refers to scientists, especially taxonomists, who prefer to classify organisms into many fine categories based on small differences.

Naming Species

The process of systematically identifying and classifying organisms into groups based on shared characteristics, following a standard set of rules.

Lumping

The practice in taxonomy of grouping together several previously separate species into one broader category.

Obsidian

A naturally occurring volcanic glass, used by ancient people for making sharp tools and ornaments.