explain the following terms
a) capital
b) Income
c) Business transactions
d) Drawing
please help me and give me correct answer...
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Explanation:
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.
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.
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