For other people named Bob Ross, see Bob Ross (disambiguation) . Robert Norman Bob Ross (October 29, 1942 â July 4, 1995) was an American painter, art instructor, and television host.
net equity net assets and deficit equity are all terms that may arise on a company s balance sheet this is a document that is prepared periodically and is used for accounting purposes it is also prepared for the benefit of stockholders or any entity that has a financial interest in the company such as a creditor
The basic accounting formula is assets minus liabilities equal equity, which means that the equity section of the balance sheet represents the assets your company holds net of any outstanding liabilities. You can also think of this as the companyâs net worth.