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).
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Collection of ledgers of same nature is called
A) Vouchers
B) Asset
C) Group
D) None of these
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Which option lists inventory valuation method in tally
A) Stock report
B) Stock journal
C) Stock analysis
D) Stock summary
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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