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CLEAR

Which of the ...

Question

Which of the following consist of money owing for goods supplied to the firm and for expenses & loans?

A

Assets

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B

Capital

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C

Liability

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D

Income

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Solution

The correct option is B Capital
Capital is a contribution made by the owner. Capital contribution is used for arranging the goods for sale, expenses and loans. Capital is a liability in the books of business.

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