Which of the following is correct?

Asset = Liability + Capital

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Capital = Asset + Liability

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Liability = Asset + Capital

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None of these

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Solution

The correct option is A
Asset = Liability + Capital

Asset = Liability + Capital

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Similar questions

Q. Capital = Liability - Assets

Q. Give one example of each of the following transactions:
(i) Increase in an asset and a liability.
(ii) Decrease in an asset and a liability.
(iii) Increase in assets and capital.
(iv) Decrease in assets and capital.

Give an example for each of the following types of transaction.
(i) Increase in one asset, decrease in another asset.
(ii) Increase in asset, increase in liability.
(iii) Increase in asset, increase in owner's capital.
(iv) Decrease in asset, decrease in liability.
(v) Decrease in asset, decrease in owner's capital.
(vi) Decrease in liabilities, increase in owner's capital.
(vii) Increase in one liability, decrease in another liability.
(viii) Increase in liabilities, decrease in owner's capital.

Which among the following statement(s) is/ are correct?

Codes :

1 only
3 only
1 and 2 only
2 and 3 only

Q. If Capital =

70, 000

; Liability =

40, 000

Find Assets.

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Which of the following is correct?

The correct option is A Asset = Liability + Capital Asset = Liability + Capital

The correct option is A
Asset = Liability + Capital

Asset = Liability + Capital