Home › CBSE Class 11 (Commerce) › Accountancy › Theory Base of Accounting › A firm has assets of Rs 8,00,000 and liabilities…
A firm has assets of Rs 8,00,000 and liabilities of Rs 3,00,000. What is the capital?
ARs 3,00,000
BRs 11,00,000
CRs 8,00,000
DRs 5,00,000
Answer & Solution
Correct answer: D. Rs 5,00,000
Capital = 8,00,000 - 3,00,000 = Rs 5,00,000.
Related questions
In accounting, what does the term 'convention' connote?What do Generally Accepted Accounting Principles aim to bring?Which existing tax was subsumed under CGST?Which GST component also covers imports of goods and services?Goods moved from Madhya Pradesh to Rajasthan attract which GST?Taxes collected under CGST form the revenue of whom?Who ultimately bears the burden of GST?GST is a tax based on which principle?