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
Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally
A) Journal
B) Payment
C) Contra
D) Receipt
Related Questions - 2
Branch / Division is a group defined under
A) Liabilities
B) Assets
C) Income
D) Expenditure
Related Questions - 3
Integrated accounts with inventory is available in
A) F12 configuration
B) F11 features
C) Inventory info
D) Accounts info
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