Q94
Which of the following statements is incorrect regarding capital account?
A.
Debit increases the capital account balance
AnswerB.
Credit increases the capital account balance
C.
Fresh capital increases the capital account balance
D.
Net income increases the capital account balance
Answer: Option A
Solution
Answer: Option A
Solution:
Debit increases the capital account balance statements is incorrect regarding capital account. It decreases the capital account balance.