Question

Define the following terms
1. Capital
2. Drawings
3- Goods
40 Transaction.​

Answer 1

Answer:

1. The capital means the assets and cash in a business. Capital may either be cash, machinery, receivable accounts, property, or houses.

2. Drawings refers to the act of withdrawing cash or assets from the company by the owner(s) for personal use

3. The things which are bought and sold by business are called goods

4. transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets.