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 options ‘use common narration’ and ‘narration each entry’ appear
A) Account creation screen
B) Voucher entry screen
C) F11 Accounting features
D) Voucher type creation screen
Related Questions - 2
ERP stands for
A) Enterprise resource planning
B) Economic resource planning
C) Efficient resource planning
D) Economic resource processing
Related Questions - 3
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 - 4
Find out which is not a Default Ledger in Tally
A) Cash in Hand
B) Capital Account
C) Profit & Loss
D) None of these
Related Questions - 5
eTCS means
A) Enable Tax Collected at Source
B) Electronic Tax Collected at Source
C) Electric Tax Collected at Source
D) None of these