--%>
Assignment Help - homework help

Why do assets equal the sum of total liabilities and equity

Why do overall assets equal the sum of total liabilities and equity?  Describe.
            Assets = Liabilities + Equity
Assets are the items of value business owns. Liabilities are claims on the business through non-owners, and equity is the owners' claim onto the business. The total of the liabilities and equity is the overall capital contributed to the business, which, through definition, equals the total value of the assets.

   Related Questions in Finance Basics

  • Q : Clarify the duties of the financial

    Clarify the duties of the financial manager within a business firm.Financial managers measure the firm's performance, find out what the financial consequences will be if the firm maintains its present course or changes it, and suggest how the fi

    		•
  • Q : Question on balance sheet of Yukon Bank

    Normal 0 false false

  • Q : Equilibrium interest rate Normal 0

    Normal 0 false false

  • Q : Explain Budget Bill Budget Bill : The

    Budget Bill: The legislation symbolizing the Governor’s proposal for spending authorization for the subsequent fiscal year. The Budget Bill is all set by the Department of Finance and submitted to each house of the Legislature i

    		•
  • Q : What is Final Budget Final Budget :

    Final Budget: Usually refers to the Governor’s Budget as amended by actions taken on the Budget Bill (example, legislative changes, and Governor’s vetoes). Note

    		•
  • Q : What is Uniform Codes Manual Uniform

    Uniform Codes Manual (UCM): It is a document sustained by the Department of Finance that sets standards for codes and different other information employed in state fiscal reporting systems. Such codes recognize, for illustration, prog

    		•
  • Q : Order Quantity-Cycle Inventory-Safety

    Consider the following data pertaining to a distribution center.

    Q : Explain three career opportunities in

    List and explain the three career opportunities in the field of finance.Finance has three main career paths: financial management, financial markets and institutions, and investments. Financial managem

    		•
  • Q : What is the Schedule of Operating

    Schedule of Operating Expenses and Equipment, Supplementary: The supplemental schedule proposed by department’s throughout budget preparation that details by object the expenses comprised in the Operating Expenses and Equipment class.

    		•
  • Q : State Section 31.00 Section 31.00 : It

    Section 31.00: It is a Control Section of Budget Act which specifies some administrative procedures. For illustration, the section subjects to the Budget Act appropriations to different sections of the Government Code, restricts the new positions a de

    		•