Advertisements
Advertisements
प्रश्न
The excess of assets over liabilities represents the ______ of the owner.
विकल्प
Capital
Drawing
Net profit
Gross profit
उत्तर
The excess of assets over liabilities represents the capital of the owner.
Explanation:
The Balance Sheet is not an account, but rather a statement of assets and liabilities. The right side displays assets, while the left side displays liabilities. The owner's capital is the excess of assets over obligations.
APPEARS IN
संबंधित प्रश्न
What is a Balance Sheet?
Write any two uses of the Balance Sheet?
A ______ is a statement of assets and liabilities at the end of the period. It shows the financial position of a business on a certain date and represents the third and final stage.
It is a financial statement which sets out the assets and liabilities of a trading or non-trading organisation as on a certain date.
The main use(s) of a Balance Sheet for a non-trading organisation is/are ______.
Which of the following is not a feature of Balance Sheet?
All membership fees collected by a non-trading concern must be entered in the assets side of the balance sheet. Justify for or against.
"A trading account reveals the financial position of an organisation." Comment.
State any two uses of Balance Sheet.
Write a short note on Role of Balance Sheet in decision making.
