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
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 - 2
Which menu appears after starting Tally for the first time
A) Gateway of Tally
B) Company Info
C) Display
D) None of these
Related Questions - 3
Related Questions - 4
Professionals usually maintain accounts as
A) Accounts with inventory
B) Accounts only
C) Normal accounting
D) Payroll accounting
Related Questions - 5
Where do we record credit purchase of furniture in Tally
A) Purchase
B) Payment
C) Receipt
D) Journal