Question

explain the following terms
a) capital
b) Income
c) Business transactions
d) Drawing​

Answer 1

Explanation:

a) when the owner brings the money to start a new business then he brings that money is known as capital

b) when the income is received

c) The transactions which are done for the business purpose are called business transactions.

d) when the goods are used for personal use is known as drawings.......

please mark it as brain list

Answer 2

Explanation:

Income is money (or some equivalent value) that an individual or business receives, usually in exchange for providing a good or service or through investing capital. Income is used to fund day-to-day expenditures. ... For individuals, income is most often received in the form of wages or salary.

Capital is a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources. Capital can also be associated with capital assets of a company that requires significant amounts of capital to finance or expand.

A business transaction is an event involving an interchange of goods, money or services between two or more parties. The transaction can be as brief as a cash purchase or as long-lasting as a service contract extending over years.

Hope it's help uh ❤️