Capital

Q.

Amount invested by the owner in the business is called as _______.

1. Assets

2. Capital

3. None of these

4. Liabilities

Q.

Which is the correct definition of capital?

1. Amount invested by owner or partners in the business in form of cash or assets having some monetary value

2. Amount invested in cash only

3. All the above

4. Amount invested by one partner only

Q.

Roshan, a Chartered Accountant earned Rs.12, 00, 000 during the financial year 2015-2016, out of which he received Rs.10, 50, 000.He incurred expenses of Rs.5, 10, 000, out of which Rs.1, 20, 000 are outstanding.He also received his fees relating to previous year Rs.1, 35, 000 and also paid Rs.60, 000 due on expenses of last year.Find out Roshan's income for 2015-2016 following the cash basis and accrual basis of accounting.

Q.

What is a capital amount?

Q.

Mr. Gopal thought of starting a business of readymade garments. For this, he withdrew cash of Rs 10, 00, 000 from his savings bank account & purchased goods worth Rs 7, 00, 000. Out of the balance, Rs 1, 00, 000 was paid by him as security for rent of the shop in which he shall start his business. He purchased furniture of Rs 1, 00, 000 for his shop & the rest was held as cash by him. What is value of capital introduced by him in the business?

1. Rs 7, 00, 000

2. Rs 8, 00, 000

3. Rs 9, 00, 000

4. Rs 10, 00, 000

Q. A man had Rs 20000000 with him. He spent Rs 13607085 on buying a school building. How much money is left with him?