ACCOUNTANCY

If the capital of a business is ₹ 5,00,000 and outside liabilities are ₹200,000. Calculate total assets of the business.

• 3,00,000

• 7,00,000

• 10,00,000

• 2,50,000

Amount which the proprietor has invested in a business is known as ......

• Capital

• Liability

• Asset

• Expenses

Amount which the firm owes to outsiders is known as.....

• Capital

• Expenses

• Liability

• Asset

Current Liabilities include:

• Bills Payable

• Creditors

• Outstanding Expenses

• All of the above

Assets held for continued use in the business and not meant for resale are termed as..........

• Fixed asset

• Current Asset

• Tangible asset

• Intangible Asset

.......... are those assets which have a physical existence and which can be seen or felt.

• Current Asset

• Wasteful Asset

• Intangible Asset

• Tangible Asset

Amount withdrawn by the owner for personal use......

• Capital

• Asset

• Drawings

• Liability

If total assets of a business are rs 10,00,000 and capital is rs 4,00,000. Calculate Creditors......

• 7,00,000

• 6,00,000

• 14,00,000

• 8,00,000

Which of the following equation is correct.....

• Assets= Liabilities - Capital

• Liabilities= Assets - Capital

• Capital= Assets + Liabilities

• Assets= Capital- Liabilities

The persons who still owe some amount to the business are termed as ..........

• Business men

• Creditors

• Debtors

• Liabilities