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.
Is This Answer Correct ? | 1 Yes | 2 No |
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