Total assets Total liabilities and capital
Total assets Total liabilities and capital
Assets: resources available to an entity to accomplish its purposes, so we say that the asset is composed of all the resources used by an entity to achieve the purposes for which it was created.
Active is the set or measurable segment of the future economic benefits expected mainly controlled by an entity represented by cash, rights, goods or services as a result of past transactions or other events occurring identifiable and quantifiable in monetary units.
The liability represents the resources available to an entity to accomplish its purposes, and has been provided by sources outside the entity (creditor), derived from transactions undertaken or economic events, which give rise to a present obligation to transfer cash, goods or services; virtually unavoidable in the future, eligible to be identifiable and measurable, reasonably in monetary units.
Equity is the right of owners over the net assets arising from contributions from owners, transactions and other events or circumstances affecting an entity and which is exercised through redemption or distribution.
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