Accounting - Study Mode
[#156] Which of the following is a correct accounting equation?
Correct Answer
(B) Assets = liability + owner's equity
[#157] Income earned and collected' results in:
Correct Answer
(A) Increase of assets and increase in capital
[#158] Indicate the correct statement as regards the sources of funds for a Funds Flow Statement from the following: i. Increase in working capital ii. Decrease in working capital iii. Writing off the intangible/fictitious assets iv. Issuing equity shares for acquisition of a building for office v. Charging depreciation on fixed assets
Correct Answer
(B) ii, iii, v
[#159] The cost of debt capital is as-
Correct Answer
(B) Paid interest
[#160] A trader values his opening stock 10% over cost. It value of opening stock is written as Rs. 27,500 then its cost would be
Correct Answer
(C) Rs. 25, 000