Assistant Accountant Question: Download Assistant Accountant PDF
Tell me what is owner’s equity? How will you calculate it?
Answer:
Owner’s equity, also known as capital of the business is the claim of the owner of the business against the assets of the business. Owner’s equity is calculated by subtracting equity of creditors from the total equity.
| Previous Question | Next Question |
| Tell us how effective are your communication skills? | Tell me what is the adjustment entries made while preparing the final accounts from the Trial Balance? |