Question
A company has assets of ₹12 lakh and owner's equity of
₹7 lakh. If the company purchases inventory worth ₹3 lakh on credit, what will be the new liabilities?Solution
Assets = ₹12 lakh Equity = ₹7 lakh Liabilities = Assets – Equity = ₹5 lakh After purchase on credit, liabilities increase by ₹3 lakh, so new liabilities = ₹5 lakh + ₹3 lakh = ₹8 lakh
What is the primary objective of the Skylark-Fortinet Operational Technology Centre of Excellence?
Where is the headquarters of the Asian Development Bank (ADB) located?
What is the primary objective of the $98 million loan signed between the Government of India and the Asian Development Bank (ADB)?
The famous Maa Mundeshwari Temple built in 635 CE, is located at which state?
- What is the primary reason for the 10% import duty on lentils (mosur) imposed by the Indian government?
India is providing a $200 million Line of Credit to which African nation for defence modernisation?
Which country's Banknotes are popularly called as Greenbacks?
- What is the maximum ATM withdrawal charge allowed by RBI from May 1, 2025, beyond the free limit?
- Who laid the foundation stone for the 'Divine Light House' of Prajapita Brahma Kumaris Ishwariya Vishwa Vidyalaya in Odisha?
What was the theme for World Wide Web Day 2025 observed on August 1?
Relevant for Exams:
