Examlex
Which of the following statements is incorrect?
Total Capital
The sum of a company's debt and equity, representing the funds used to finance its operations and growth.
Partnership
Business operation legally established for dual or multiple partners to govern and split profits.
Capital Account
In finance, it relates to a financial statement detailing the investment funds brought into and taken out of a company by its owners; in economics, it represents the part of the balance of payments recording net changes in a country’s foreign assets and liabilities.
Statement Of Partners' Equity
A financial document that shows changes in the equity interest of partners in a partnership over a period of time.
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