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
How can data be imported in tally
A) One company to another company created within Tally Package
B) Other programs – a spreadsheet or a database file
C) Depends on number of companies
D) Both A and B
Related Questions - 2
Discount Column is available in
A) Sales Invoice
B) Purchase Invoice
C) Both (a) and (b)
D) None of these
Related Questions - 3
The Profit & Loss statement can be displayed in ________ format(s).
A) Horizontal
B) Vertical
C) A or B
D) None of the above
Related Questions - 4
Which option is selected from Company Info Menu to divide company data into two financial years
A) Change Tally Vault
B) Alter
C) Split Company Data
D) New Company
Related Questions - 5
A ______ is sent to the seller when he is taken back the sold goods
A) Debit note
B) Credit note
C) Proforma invoice
D) Bill