Which of the following explains the concept of capital maintenance?

Which of the following explains the concept of capital maintenance?
A . the cost of maintaining an entity’s non-current assets in good working condition
B . the cost of replacing an entity’s non-current assets
C . the raising of new capital by the issue of shares
D . retaining sufficient profits to ensure that closing net assets are at least equal in value to net assets at the beginning of the period

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Answer: D