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Equity
The value of an asset or liability minus any outstanding debt associated with it. Equity is the ownership interest that a person has in an asset.
More Details
Equity represents the value of an ownership interest in a company or asset. It can be used as a measure of financial strength and as a source of capital for investment or expansion.
Example
If you own a home worth $500,000 and you have a mortgage balance of $300,000, your home equity is $200,000.
Related Terms
Stop Payment
A request made by a financial institution to cancel a check or payment that has not completed processing, typically prompted by the account holder.
Withdrawal
The removal of funds from a bank, savings, or investment account, as allowed by the terms and conditions of that account.
Billing Error
A mistake on a billing statement or invoice. This could include incorrect charges, duplicate charges, or charges for services not provided.