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re: How exactly does equity work?
Posted on 2/22/13 at 7:20 am to RandySavage
Posted on 2/22/13 at 7:20 am to RandySavage
It refers to the old accounting definition of assets = liabilities + equity. It applies to basically any economic entity, not just housing. Equity is what is left over after liabilities are taken care of.
It's what the owner has in the game, basically. In cases where there is no owner (nonprofits, government) it is called "net position" instead.
It's what the owner has in the game, basically. In cases where there is no owner (nonprofits, government) it is called "net position" instead.
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