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Question
Write the word / term / phrase which can substitute the following Statement.
An excess of assets over liabilities.
One Word/Term Answer
Solution
Capital
Explanation: Excess of assets over liabilities is known as capital. Opening capital is calculated by deducting opening liabilities from opening assets and closing capital is calculated by deducting closing liabilities from closing assets.
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Additional Information - Overvaluation of Assets and Liabilities
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