SBR Specimen paper Q1 b (equity and liability)

Sir in this question examiner has asked that advise kutchen on difference between equity and liability and this is of 4 marks

In open tuition answer, its written that :

Equity is the residual interest in the assets of the entity after deducting the liabilities.

A liability is a present obligation, as a result of a past event that gives rise to an outflow of economic benefit.

The key difference between equity and a liability is the contractual obligation to deliver cash under the liability. Example :An example is with preference shares, where legally they are a share but in substance any contractual obligation to deliver cash, will mean that it is treated as a liability, as is the case with a redeemable preference share.

If we write exactly the above answer as it is without any further explanation , then will we get full 4 marks for this answer? Or do we need to explain more?