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
Optional Voucher is one type of
A) Conventional Voucher
B) Unconventional Voucher
C) Both A and B
D) None of these
Related Questions - 2
Trial balance is prepared on ________ basis
A) Monthly
B) Annually
C) Half yearly
D) Any of the above
Related Questions - 3
Which of the following shows daily balance for a selected voucher type
A) Day book
B) Trial Balance
C) Balance Sheet
D) None of the above
Related Questions - 4
Which of the following is not compulsory to create while entry in Accounts with Inventory
A) Stock Groups
B) Stock Items
C) Stock Categories
D) Units of Measure
Related Questions - 5
A ________ serves the purpose of both journal and ledger accounts
A) Journal proper
B) Purchase day book
C) Cash book
D) Any of the above