True or false? Capital refers to a person's assets.

Capital refers to a person's assets, encompassing everything of value that they own which can be used to generate wealth or can be utilized in various ways for economic benefit. This includes cash, investments, property, and personal items that can be sold or exchanged for cash. Understanding capital is essential in personal finance and independent living, as it represents a portion of an individual's net worth and plays a critical role in making informed financial decisions, planning for the future, and ensuring financial stability. The concept of capital is foundational in economics and finance, making this statement accurate.