Explain the Difference Between AND and OR Criteria

question 64

Essay

Explain the difference between AND and OR criteria.

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Definitions:

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities; it represents the ownership interest of the shareholders or owner in the company.

Assets

Resources owned by a company from which future economic benefits are expected to flow to the entity.

Owner's Equity

The residual interest in the assets of a company after deducting its liabilities, representing the ownership's claim on assets.

Liabilities

Financial obligations or debts that a company or an individual owes to others.