INTERVIEW QUESTIONS COMMON PROFICIENCY TEST (CPT) FUNDAMENTALS OF ACCOUNTING DETAILS

Question: Which of the following is correct?
a) (Current Assets + Fixed Assets) + (Current Liabilities+ Long term Liabilities)
b) (Current Assets + Fixed Assets)- (Current Liabilities+ Long term Liabilities)
c) (Current Asset- Fixed Asset)- (Current Liabilities+ Long term Liabilities)
d) None of the above

Answer: (b)
Description: According to the accounting equation:
Assets- Liabilities= Owner's equity.
(Current Assets+ Fixed Assets)- (Current Liabilities+ Long term Liabilities)

(b)
Description: According to the accounting equation:
Assets- Liabilities= Owner's equity.
(Current Assets+ Fixed Assets)- (Current Liabilities+ Long term Liabilities) Source: CoolInterview.com

If you have the better answer, then send it to us. We will display your answer after the approval.

Rules to Post Answers in CoolInterview.com:-

• There should not be any Spelling Mistakes.
• There should not be any Gramatical Errors.
• Answers must not contain any bad words.
• Answers should not be the repeat of same answer, already approved.
• Answer should be complete in itself.

Name :*
Email Id :*
Answer :*
Verification Code	Not readable? Load New Code
Enter the above shown code: *
	Inform me about updated answers to this question