Which term describes the owner's rights to the assets of a company?

Owner's equity is the term that specifically represents the owner's rights to the assets of a company. It reflects the net worth of the business from the owner's perspective, calculated as the total assets minus total liabilities. This figure indicates what portion of the company's assets is owned outright by the owners, giving them a claim to the assets after all debts have been paid.

For example, if a company owns $1 million in assets but has $600,000 in liabilities, the owner's equity would be $400,000. This concept is fundamental in accounting and financial reporting, as it provides insights into the financial health and value of a business from the owner's viewpoint.

The other terms do not appropriately describe the owner's rights to company assets. While assets refer to valuable resources owned by a company, liabilities are obligations or debts the company owes. Competition relates to the market dynamics between businesses and does not pertain to ownership rights.