Question :

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


Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally


A) Journal
B) Payment
C) Contra
D) Receipt

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Related Questions - 2


Branch / Division is a group defined under


A) Liabilities
B) Assets
C) Income
D) Expenditure

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Related Questions - 3


Integrated accounts with inventory is available in


A) F12 configuration
B) F11 features
C) Inventory info
D) Accounts info

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Related Questions - 4


How many types of users are present in tally


A) 1
B) 2
C) 3
D) 4

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Related Questions - 5


Which shortcut key is used in Company Features screen to use Accounting Features in Tally


A) F1
B) F2
C) F3
D) F4

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