The Financial Difference Between the Value of an Organization's Assets

question 94

Multiple Choice

The financial difference between the value of an organization's assets and its liabilities is known as ____________.

• A)equity
• B)sales
• C)expenses
• D)total revenue

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Definitions:

Circuit

In electronics, a circular path through which an electric current flows or moves; in legal terms, a geographical area of jurisdiction for federal courts.

General Jurisdiction

The court's authority to hear all kinds of legal disputes, typically regarding cases that are not limited by the subject matter or geographic area.

Trial Court

A court of law where cases are tried in the first instance, as opposed to an appeals court.

State's Trial

A legal proceeding held in a state court, which can involve criminal, civil, or administrative matters within that state's jurisdiction.