Assets - Liabilities = Owner's equity Which of the following can best define this equation? Short-term and long-term debt = Amount of money that owners have in the company All items of value that a company has - Short-term and long-term debt = Amount of money that owners have in the company Short-term and long-term debt - All items of value that a company has = Amount of money that owners have in the company All items of value that a company has - Short-term and long-term debt