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प्रश्न
The excess of assets over liabilities represents the ______ of the owner.
पर्याय
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.
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संबंधित प्रश्न
What are the features of a Balance Sheet?
Explain five uses of Balance Sheet.
It is a financial statement which sets out the assets and liabilities of a trading or non-trading organisation as on a certain date.
______ is a financial statement which sets out assets and liabilities as on a certain date.
Why is a Balance Sheet prepared?
It is a statement of assets and liabilities. It is prepared to judge the financial position on a particular date.
The main use(s) of a Balance Sheet for a non-trading organisation is/are ______.
It is always prepared on a particular date.
______ shows the financial position of the organization.
State any two uses of Balance Sheet.
