Question :
A) Assets = Liabilities + Capital
B) Liabilities = Assets + Capital
C) Capital = Assets + Liabilities
D) All of these
Answer : A
Which of the following equation is true for balance sheet
A) Assets = Liabilities + Capital
B) Liabilities = Assets + Capital
C) Capital = Assets + Liabilities
D) All of these
Answer : A
Description :
The balance sheet displays the company’s total assets, and how these assets are financed, through either debt or equity. It can also be referred to as a statement of net worth, or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity(Capital).
Related Questions - 1
Retained Earnings is an alias of
A) Indirect Income
B) Reserve and Surplus
C) Capital Account
D) Investments
Related Questions - 2
Which option is true for viewing Profit & Loss A/C in Gateway of Tally
A) Gateway of Tally > Reports > Profit ; Loss A/C
B) Gateway of Tally > Display > Profit ; Loss A/C
C) Gateway of Tally > Account Books > Profit ; Loss A/C
D) None of these
Related Questions - 3
A Group Company is ________ given to the merged accounts of member companies of the group
A) a name
B) an identity
C) A and B
D) None of the above
Related Questions - 4
Rs. 20,000 withdrawn from State Bank. In which voucher type this transaction will be recorded
A) Payment
B) Receipt
C) Contra
D) Post-Dated
Related Questions - 5
Which option is used in Tally to close opened Company
A) Alter
B) Shut Company
C) Create Company
D) Select Company