what is the difference between assets, liabilities and capital
Assets are the resources(property, legal rights) owned by business and can be expressed in monetary value. Assets can be tangible or intangible nature. Its example are Building, Land, Furniture, Cash or Debtors. On the other hand Liabilities is the amount that business has to pay to Outsiders and to Owner. When amount is payable to Outsiders it will be called as External Liability such as Bank Loan and when it is payable to Owner it is called as Internal Liability such as Capital by Proprietor.
Capital is amount invested by the Owner in the business.