ICAEW ACA Accounting Practice Questions - ICAEW ACA Certificate Level Accounting (Accounting Fundamentals) Exam

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The accounting equation states that assets equal capital plus liabilities. A sole trader has assets of GBP 80,000 and liabilities of GBP 30,000. What is the proprietor's capital?

GBP 110,000 GBP 50,000 GBP 30,000 GBP 80,000

Correct Answer:

GBP 50,000

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