BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Assets are what a company owns, such as equipment, buildings, and inventory. Claims on assets include liabilities and owners’ equity. Liabilities are what a company owes, such as notes payable, trade accounts payable and bonds. Owner’s equity represents the claims of owners against the business.

Detailed explanation-2: -The total financial claims to the assets of a business are referred to as equities.

Detailed explanation-3: -According to the commonly cited definition from the International Financial Reporting Standards (IFRS), financial assets include: Cash. Equity instruments of an entity-for example a share certificate. A contractual right to receive a financial asset from another entity-known as a receivable.

Detailed explanation-4: –The remaining claim against the assets of a business after the liabilities have been deducted is owners’ equity. Thus owners’ equity is a residual amount. It represents the net assets, total assets minus total liabilities, available after all obligations have been satisfied.

Detailed explanation-5: -Financial assets are economic assets, comprising all financial claims, equity and the gold bullion component of monetary gold. These assets are stores of value representing a benefit or series of benefits accruing to the economic owner through holding or using the assets over a period of time.