Question

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what are the rules of debit and credit same for both liability and capital ​

Answer 1

Liability is towards creditors while capital is also a liability of a business towards its owners. Hence the same rules of debit and credit apply to both liability and capital.

Answer 2

Answer:

The rules of debit and credit are same for both liability and capital because capital is also considered as liability with the view point of business, In accounting, there is a concept, according to which business and businessman, both are separate and whatever is invested by the owner of a firm in that film is also ...

Explanation:

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