If owner's capital is Rs. 50,000 liability is Rs. 30,000 and fixed assets is Rs. 70,000, then wh - (a) Description: According to the accounting equation: Owner's capital= Assets- Liabilities 50,000= (70,000+ current assets)- 30,000 Current Assets= Rs. 10,000 - Fundamentals of Accounting Interview Questions and Answers

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Question: If owner's capital is Rs. 50,000 liability is Rs. 30,000 and fixed assets is Rs. 70,000, then what is the value of current assets?
a) Rs. 10,000
b) Rs. 40,000
c) Rs. 80,000
d) Rs. 1,00,000

Answer: (a)
Description: According to the accounting equation:
Owner's capital= Assets- Liabilities
50,000= (70,000+ current assets)- 30,000
Current Assets= Rs. 10,000

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Question: If owner's capital is Rs. 50,000 liability is Rs. 30,000 and fixed assets is Rs. 70,000, then what is the value of current assets?
a) Rs. 10,000
b) Rs. 40,000
c) Rs. 80,000
d) Rs. 1,00,000

Answer:

(a)
Description: According to the accounting equation:
Owner's capital= Assets- Liabilities
50,000= (70,000+ current assets)- 30,000
Current Assets= Rs. 10,000 Source: CoolInterview.com

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