Question

As per Dual Aspect concept :-
(i) Asset = Liabilities - Capital.
(ii)
Asset = Capital - Liabilities
(iii)
Asset = Liabilities + Capital
(iv)
Capital = Assets + Liabilities​

Answer 1

Answer:

III) Assets = Liabilities + Capital.....

Answer 2

(iii) Asset = Liabilities + Capital

• The dual aspect concept states that each transaction made by a business affects the firm in two different ways which are equal in monetary terms and opposite in nature.
• This concept forms the base of double-entry accounting and is used by all accounting firms and operations for generating accurate and reliable and error-less financial statements.
• Assets are the resources owned or operated by a business form or an economic entity.
• Liabilities are something owned by a firm or entity, usually a sum of money or any outstanding amount .
• Capital of a business is the amount of money that is  available to pay for its day-to-day operations and to fund its future growth.

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