assets -liabilities =capital[true/false]
Answers
Answered by
146
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.
Answered by
0
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.
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