Question :

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

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Related Questions - 2


ERP stands for


A) Enterprise resource planning
B) Economic resource planning
C) Efficient resource planning
D) Economic resource processing

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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

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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

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eTCS means


A) Enable Tax Collected at Source
B) Electronic Tax Collected at Source
C) Electric Tax Collected at Source
D) None of these

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