The Difference Between a Company's Assets and Its Liabilities, or Net

question 181

Multiple Choice

The difference between a company's assets and its liabilities, or net assets is:

• A) Expense.
• B) Net loss.
• C) Equity.
• D) Net income.
• E) Revenue.

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Definitions:

Potential Obligation

This term refers to a possible future liability that might arise as a result of past events or transactions, dependent on certain occurrences.