197. Which of the following statements is incorrect regarding capital account?

Debit increases the capital account balance
Credit increases the capital account balance
Fresh capital increases the capital account balance
Net income increases the capital account balance
✅ The correct answer is A.
Debit increases the capital account balance statements is incorrect regarding capital account. It decreases the capital account balance.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top