The International Accounting Standards Board's Conceptual Framework for Financial Reporting defines equity as:
A) The residual interest in the assets of the entity after adding all its liabilities.
B) The residual interest in the liabilities of the entity after adding all its assets.
C) The residual interest in the assets of the entity.
D) The residual interest in the assets of the entity after deducting all its liabilities.
Correct Answer:
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