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  5. The amount by which...

The amount by which assets exceeds liabilities is

Accounts - Principles of Accounts
JAMB 2024

The amount by which assets exceeds liabilities is

  • A. capital
  • B. premium
  • C. bonus
  • D. provision
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Correct Answer: Option A
Explanation

Owner's equity (also known as shareholder's equity or capital) represents the remaining value that belongs to the company's owners after all liabilities are settled. It essentially reflects the net worth of the business from th owners' perspective.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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