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

Commerce
WAEC 2011

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

  • 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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