Examlex
Identify three essential functions of law.
Owners' Equity
The total value belonging to the owners of a company, calculated as the company's total assets minus its total liabilities, indicative of the net worth.
Net Worth
The total value of an individual's or organization's assets minus liabilities, representing the financial health or value of the entity.
Dividends
Payments made by a corporation to its shareholder members, distributing a portion of the company's earnings.
Objective of Accounting
The main purpose of accounting, which is to record financial transactions, summarize and report financial information accurately for decision making.
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