The total assets of a business less its total liability is known as

Commerce

WAEC 2011

A. capital owned
B. share capital
C. issued capital
D. working capital

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Correct Answer: Option A

Explanation

Capital owned: This is the excess of value of asset of a business over its liability. It is the net worth of a business.
Capital owned = assets - liabilities

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The total assets of a business less its total liability is known as

Correct Answer: Option A

Explanation

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