What is the difference called if the assets exceed the liabilities?
For business class
- BLv 79 months ago
assets always equal liabilities plus owners equity. therefore when the assets exceed liabilities there are retained earnings.
- olliverLv 69 months ago
The accounting equation is
Assets = Liabilities + Equity
If assets exceed liabilities Equity is positive.
- 9 months ago
PROFIT ??? ------------
- Anonymous9 months ago
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- BillybeanLv 79 months ago
It's called "should have listened in class"