State whether the following statements are True or False.
Capital Account rarely shows debit balance.
True
False

Question

State whether the following statements are True or False-Capital Account rarely shows debit balance- TrueFalse

Toppr Admin · Accepted Answer

A capital account shows credit balance- It represents the amount owed by a business to the owner of the business- Thus- it is a liability for-xA0- the business- All the liabilities represents the credit balance- Hence- Capital A-c represents the credit balance-

State whether the following statements are True or False.Capital Account rarely shows debit balance. TrueFalse

A capital account shows credit balance. It represents the amount owed by a business to the owner of the business. Thus, it is a liability for the business. All the liabilities represents the credit balance. Hence, Capital A/c represents the credit balance.

State whether the following statements are True or False.
Capital Account rarely shows debit balance.
True
False