_________ liabilities represent proprietor’s equity, i.e. all thoseamount which are entitled to the proprietor

Related MCQs

• Amount received from the proprietors as capital or loan receipt is treated as-
• A and B enter into a joint venture sharing profit and losses in the ratio of 3:2. A purchased goods costing `2,00,000. B sold 95% goods for ` 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. A drew a bill on B for an amount equivalent to 80% of original cost of goods. A got it discounted at `1,50,000. What is A's share of profit?
• If outside liabilities and owners‘ equity are added we get………
• Long term assets being `3,00,000, current Assets `80,000, outside liabilities `1,20,000. Find owners equity-
• According to which concept, proprietor of a business is treated as a creditors to the extent of his capital
• ` 1,250 paid for the residential telephone bill of the proprietor which of these accounts will be detailed
• The premium paid on the life policy of the proprietor is debited to
• Income tax paid for the proprietor from the business is
• Withdrawals by proprietor would
• Goods taken by the proprietor for personal is shown as a deduction from_____________