Question

assets -liabilities =capital[true/false]​

Answer 1

Answer:

This statement is False.

Explanation:

The amount invested by the owner in the form of goods, cash, or assets is known as capital. As the owner is involved in a transaction, the capital account is a personal account.

Answer 2

Answer:

True

Explanation:

The balance sheet displays the company’s total assets, and how these assets are financed, through either debt or equity. It can also be referred to as a statement of net worth, or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity.