Ptinciples of Accounts Project. 梁婉玲 葉麗虹 黃鳳儀 劉秋儀 余紫薇. Topic. Assets. Assets = Capital.
Assets = Capital
Usually , someone other than the owner has supplied some of the assets. Liabilities is the name given to the amount owing to these people for these assets. The equation has now changed to:
Assets = Capital + Liabilities
Assets consist of property of all kinds, such as buildings, machinery, stock of goods and motor vehicles, etc. Also benefits such as debts owed by customers, the amount of money in the bank account and the cash at hand are included.
Buildings is an example of Fixed Assets.
The correct answer is a) buildings
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