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Does a business assets include proprietor”s capital. The answer in kaplan says NO.
I was thinking asset belongs to the owner of the business.
The assets belong to the business.
The business owes money to the owner – this is what the capital is.
The capital is always equal to the net assets, but they are not the same thing.
I do suggest that you watch my free lectures. They are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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