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
Which voucher type is used to transfer amount from one bank to another
A) Contra
B) Payment
C) Receipt
D) Post-Dated
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Which option is used to view list of Primary and Secondary groups in Tally
A) List of Accounts
B) Accounts
C) List
D) None of these
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Company features in tally includes
A) Accounting features
B) Inventory features
C) Statutory features
D) All of the above
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In tally you get currency symbol option from ________ menu
A) Company creation
B) Stock items units
C) Regional setting
D) None of the above