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Which of the following is incorrect?

a. Capital is reduced by a loss
b. Profit does not affect capital
c. If there is no profit there is no capital
d. A loan received will reduce capital


User GriffoGoes
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1 Answer

4 votes

Answer:

d. A loan received will reduce capital

Step-by-step explanation:

Capital is the collection of financial assets required to start and maintain a business. Capital is the money required to begin the operations of a business. The money is used to purchase assets and materials used in the production of goods or services. Capital is either borrowed( debt ) or from the owner's savings ( equity).

A loan is cash borrowed to boost the financial strength of an individual or a business. Should a business opt for a loan, it means it will have more cash to finance its operations. Its ability to produce goods and services is increased. Therefore, a loan is an addition to capital.

User Richard De Wit
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