The correct answer is D. Assets – External liablities = capital.
A. The amount received by selling goods and services is called revenue. This is correct. Revenue is the amount of money that a company earns from selling its products or services.
B. The money invested by owner in the business is called capital. This is also correct. Capital is the money that an owner invests in a business. It can be in the form of cash, property, or equipment.
C. The grouping of transaction of same nature at one place is called recording. This is also correct. Recording is the process of keeping track of financial transactions. It is important to record all transactions accurately and in a timely manner.
D. Assets – External liablities = capital. This is incorrect. The formula for calculating capital is assets – liabilities. Liabilities are the debts that a company owes. When you subtract liabilities from assets, you get the company’s net worth.
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