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| 1. |
What is difference between assets ,liability and capital? |
| Answer» Asset- All the valuable things present on the earth which give benefit in the future.ex ( Cash in hand ,cash at bank ,building ,machinery, stock) etc.Liability- The amt. of money owed from others and payment made to pay in future called liability.ex(Loan, long term loan,Bills payable,Bank Overdraft, Outstanding expenses) etc.Capital- All the thing invested by the proprietor in the business called Capital. | |