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In rank societies and some state societies such as monarchies, rulers gain their authority through __________.
Financial Position
An overview of an entity's economic resources, obligations, and net worth at a point in time, typically represented by the balance sheet.
Owners' Equity
The residual interest in the assets of a business after deducting its liabilities, representing the ownership's value in the firm.
Net Worth
The total assets of an individual or company minus its total liabilities, representing the financial value of the entity.
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenue.
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