Which of the following will not be included in Liability ...

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General Accounting Principles Accounting cycles Add to Study Deck

Which of the following will not be included in Liability-

Bank overdraft

Bank balance

Capital

Loan

Explanation:

Bank Balance is an asset as it determines the amount the proprietor keeps in bank for use in future.

By: NIHARIKA WALIA

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Pradeep Singh Dumaga

Then please explain how capital can be included in Liability

NIHARIKA WALIA

Capital is a liability of the organization towards the owner. As per the business entity concept business and entrepreneur are different thus whatever money he invests in the business is to be paid back to him some day. Hence, it can be treated as a liability towards the owners

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