Of the following choices, which one is true with respect to equity?

(a) equity is a way of expressing the extent to which an owner profits from his or her business;

(b) equity represents an owner's residual interest in the assets of a business;

(c) equity represents the owner's return, for investing in the business;

(d) equity represents the accumulated earnings of a business over a period of time; or

(e) none of the above choices are correct.