Asked by
Megan Campbell
on Nov 15, 2024
Verified
Economic resources that are owned by a business are called shareholders' equity.
Economic Resources
Assets or inputs utilized in the production of goods and services, such as labor, land, and capital.
Shareholders' Equity
Shareholders' equity is the residual interest in the assets of a corporation that remains after deducting its liabilities, often referred to as stockholders' equity.
- Develop an understanding of the components such as assets, liabilities, and shareholders' equity, and their pivotal role in the accounting sphere.
Verified Answer
GL
Learning Objectives
- Develop an understanding of the components such as assets, liabilities, and shareholders' equity, and their pivotal role in the accounting sphere.