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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Difference between economic resources & claims to economic resources
Hi sir,
Is there any difference between economic resources and claim to economic resources? Can I say that entity’s economic resources is asset whereas claim to economic resources
= asset + liability?
Thank you and have a nice day!
Hi,
Yes, the economic resources are what we own/control, i.e. assets, and the claims on those economic resources are the claims the creditors and shareholders have over those assets, i.e. equity and liabilities.
Thanks