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what is the different between Liability and owners equities ?
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Answer / abilasha
Liability is to responsible for payment but owners capital is different like owners capital is share owed by the propreitor
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Answer / neha
Owner's equity represents the capital i.e., the investment
in the form of cash and assets made by the owner and the
returna thereof, viz., P&L balance, general reserves etc.
However, all other claims accrued to the business by
entities other than owners constitute other's liabilities.
Total liabilities are sum total of owners and other
liabilities.
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