On Thu, 27 Apr 2000, John Hasler wrote:
> Christopher Browne writes:
> > There is a section entitled "Assets," and there is a section entitled
> > "Liabilities and Shareholders' Equity."
>
> In fact, you can think of equity (capital) as a kind of liability: it's
> what the enterprise would owe to the owners if all the assets were sold and
> all the creditors paid.
Yes, but you separate it because "Assets - Liabilities" is an interesting
number. "Assets - (Liabilities & Equity)" is, shall we say, boring.
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