What is the capital at start?
Question
What is the capital at start?
Options
A)
₦53 000
B)
₦63 000
C)
₦73 000
D)
₦83 000
The correct answer is D.
Explanation:
Also known as net assets or equity, capital refers to what is left to the owners after all liabilities are settled. Simply stated, capital is equal to total assets minus total liabilities. When you do the math, (₦70 000 + ₦58 000 + ₦100 000) - (₦85 000 + ₦60 000), you get ₦83 000.
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Also known as net assets or equity, capital refers to what is left to the owners after all liabilities are settled. Simply stated, capital is equal to total assets minus total liabilities. When you do the math, (₦70 000 + ₦58 000 + ₦100 000) - (₦85 000 + ₦60 000), you get ₦83 000.