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
The rate of trade discount varies with the ________ purchased
A) Total asset
B) Current asset
C) Quantity
D) None of these
Related Questions - 2
Default ledger accounts in tally are ________
A) Balance sheet profit & loss and trial balance
B) Profit & loss and trial balance
C) Cash and profit & loss accounts
D) Cash and bank accounts
Related Questions - 3
We can use Stock Journal for
A) Production and Consumption
B) Inter Godown transfer for stock
C) Both (a) and (b)
D) None of these
Related Questions - 4
The home screen of tally is also known as
A) Menu bar
B) Gateway of tally
C) Accounts info
D) Button tool bar