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    Question

    On January 1st, 2009 an entity's balance sheet showed

    total assets of Rs. 750 and liabilities of Rs. 250. Owners' equity at January 1st was?
    A Rs. 750 Correct Answer Incorrect Answer
    B Rs. 1,000 Correct Answer Incorrect Answer
    C Rs. 500 Correct Answer Incorrect Answer
    D Rs. 250 Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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