What is the definition of patrimony, assets, liabilities, and net worth?
Patrimony is the set of assets, rights, and obligations.
Assets are all t...
What is the definition of patrimony, assets, liabilities, and net worth?
Patrimony is the set of assets, rights, and obligations. Assets are all things that have utility for entities and can be economically evaluated. Rights are all values that the company has to receive from third parties. Liabilities are all debts that the company has to pay to third parties. Net worth is the residual interest of assets after deducting all its liabilities.
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