INTERVIEW QUESTIONS COMPUTER HARDWARE 8085 DETAILS

Question: Why should Balance Sheet Tally, explain?

Answer: The liability part of the balance sheet is basically for investment purpose. suppose u take 50000 loan its a liability but it is used for purchasing some asset .... therefore u cant use more that u have.
asset + liabilities= capital

The liability part of the balance sheet is basically for investment purpose. suppose u take 50000 loan its a liability but it is used for purchasing some asset .... therefore u cant use more that u have.
asset + liabilities= capital Source: CoolInterview.com

Balance sheet tallies all of the assets, liabilities and capital accounts of a financial entity - could be a business enterprise or your own personal financial status. The balance sheet is formally known as the statement of financial position. It is a snapshot of the financial position of an economic entity on any given day. On a balance sheet the total of all assets are equal to the sum of all liabilities and capital. The accounting equation is Assets = Liabilities + Capital. It is a restatement of the algebraic equation Assets minus Liabilities equals Capital. Source: CoolInterview.com

Balance sheet must be tallied bec its shows economic position of the company. To invest or not in the particular company can be decided by go through b/s . its also help to shareholders . Source: CoolInterview.com

Balance sheet should tally because all the journal entry has the same amount for debit as well as credit, and also Assets = Liabilities+Capital. Source: CoolInterview.com

Book Keeping says that every debit have corresponding credit and every credit has corresponding debit. So every transactions in Book keeping has two aspects, that is debit and credit. So Balance sheet should always tally. Source: CoolInterview.com

in my tally7.2 some assets are shown at liability side and some liability are shown at asset side ,why it happened ? please give solution for it Source: CoolInterview.com

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