PRC-1 · Chapter 1 · Question 63 of 100
In accounting terminology, what is the formula to calculate the 'Net Assets' of a business?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Total Assets - Total Liabilities
Explanation
Net Assets are calculated by deducting Total Liabilities from Total Assets, which mathematically equates to the Owner's Equity.
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