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Stephen Widberg.
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Noah098
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sir why does equity not meet the definition of economic resource?
economic resource for my understanding is a “resource that gives rise to potential economic economic benefits” and raising equity allows entities to raise cash(economic benefit) so then why is it not economic resource?
Stephen Widberg
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Economic resources are assets. DEBIT
Equity is not an asset – it’s more like an obligation to shareholders. CREDIT
Noah098
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