Q.10
Explain the following
Capital
Drawing
Debtors
creditors
Liabilities
Answers
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Answer:
CAPITAL: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.
DRAWING:A picture or diagram made with a pencil, pen or crayon rather than paint.
DEBTORS:A person, country or organization that owes money.
CREDITORS:A creditor is an entity that extends credit by giving another entity permission to borrow money intended to be repaid in the future. Creditors can be classified as either personal or real. People who loan money to friends or family are personal creditors.
LIABILITIES:The state of being legally responsible for something.