Funds supplied by the owners and represents their residual claim on the firm.
A) Income
B) Assets
C) Equity
D) Liabilities

Question

Quizplus · Accepted Answer

Equity represents the funds supplied by the owners and their residual claim on the firm, meaning they are entitled to the remaining assets after all debts and liabilities have been paid. Income refers to the revenues earned by the company, assets represent the resources owned by the company, and liabilities represent the financial obligations owed by the company to others.

Funds Supplied by the Owners and Represents Their Residual Claim