Net worth of business means
A) Total assets
B) Fixed assets - current assets.
C) Equity capital
D) Total assets - total liabilities
Correct Answer:
Verified
Q15: Which of the following item will be
Q16: Which of the following would not appear
Q17: Outstanding expenditure is a _ account.
A)Nominal
B)Personnel
C)Real
D)Current
Q18: _ deals with the depreciation account.
A)AS4
B)AS6
C)AS10
D)AS13
Q19: According to which concept, proprietor of a
Q21: The policy of anticipate no profit and
Q22: Capital account is a
A)Fictitious account
B)Personal account
C)Liability account
D)Nominal
Q23: Revenue is generally recognized as being earned
Q24: The fundamental accounting equation Assets = liabilities
Q25: Depreciation is
A)An accounting necessity only
B)Tax necessity only
C)Tax
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