Write a short note on owners' equity.
What will be an ideal response?
Owners' equity is the owners' share of (or net worth in) a business, after liabilities are subtracted from assets. The owners receive income from profits in the form of dividends or an increase in their share of the company through an increase in retained earnings. Owners also absorb losses, which decrease their equity.
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Indicate whether the statement is true or false
What were the two main styles of leadership behavior that the University of Michigan study developed?
A. job-centered and employee-centered B. employee-centered and performance-centered C. job-centered and human resource-centered D. employee-centered and product-centered
A basic part of a job order costing system is the set of procedures and entries used to record the costs incurred for materials, labor, and overhead
Indicate whether the statement is true or false
Which of the following statements is TRUE?
A) when a partner dies, the partnership continues to exist and is not dissolved B) when a shareholder dies, the corporation continues to exist and is not dissolved C) when a shareholder dies, the corporation is dissolved D) when a shareholder dies, their shares are must be transferred to other existing shareholders E) shareholders owe each other a fiduciary duty