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Home > Accounting > Question

Net Assets equal:

0
A) Revenue - Expenses
B) Total Assets - Total Liabilities
C) Capital + Drawings
D) Total Liabilities - Total Assets

Correct Answer: B) Total Assets - Total Liabilities

• In financial accounting, the mathematical formula for calculating Net Assets is Total Assets - Total Liabilities. • Net Assets are structurally exactly equal to a company's total Equity. • The fundamental accounting equation states that Total Assets always equal Liabilities + Equity. • Money completely withdrawn by an owner for personal domestic use is recorded as Drawings. • Total Revenue minus Total Expenses accurately yields the company's Net Income.

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