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Answer Posted / sohail hariyani
debt is a liability
and
equity is ownership
Debt defines the state of owing something (especially
money); "he is badly in debt"
money or goods or services owed by one person to another
an obligation to pay or do something
Equity defines the difference between the market value of a
property and the claims held against it
the ownership interest of shareholders in a corporation
fairness: conformity with rules or standards; "the judge
recognized the fairness of my claim"
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