Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 3 - No. 3)
What does 'Capital' represent on a statement of financial position?
The total value of the partnership's assets.
The partners' ownership interest in the business.
The total amount of debt the partnership owes.
The total amount of revenue generated by the business.
Explanation
Capital represents the partners' ownership interest.
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