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The excess value of total assets over total liabilites is

Commerce
WAEC 2023

The excess value of total assets over total liabilites is

  • A. capital owned
  • B. borrowed capital
  • C. paid-up capital
  • D. paid-up capital
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Correct Answer: Option A
Explanation

The excess of the assets over liabilites is called net assets or worth and it is equivalent to total equity, owner's equity or capital owned.

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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group