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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question 
What is the diffrecnce between liabilities and owner's 
equity?
 Question Submitted By :: Murad
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the diffrecnce between liabilities and owner's equity?
Answer
# 1		 
Hi,

Owner and the Company/Firm are both the different entities. 
Owner's Equity itself is a liability for the firm/Company 
as the owner has invested it into the firm.

Hope this helps.

Thanks,
Abhijit
 
Is This Answer Correct ?    1 Yes 0 No
Abhijtipatalia
[Globeop Fin Services (I) Pvt. Ltd.]
 
  Re: What is the diffrecnce between liabilities and owner's equity?
Answer
# 2		 
liabilities means any amount borrowed from outside, it
involves all current liability, long term loans, payment
dues etc. on the other hand owner's equity means interest of
owner in business. like the amount of profit.
thanks
prateek srivastava
9828083910
 
Is This Answer Correct ?    3 Yes 0 No
PRATEEK
 
 
 

 
 
 
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