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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are the two main sections of a Balance Sheet?
💡 Hint: Think about what a company owns versus what it owes.
Question 2
Easy
What are Current Assets?
💡 Hint: These are short-term resources.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
Which of the following is NOT a component of shareholders' funds?
- Preference Share Capital
- Equity Share Capital
- Accounts Payable
💡 Hint: Recall what shareholders’ funds represent.
Question 2
True or False: Non-current assets are intended to be converted into cash within one year.
- True
- False
💡 Hint: Remember the time frame for asset classification.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a company's assets total ₹1,000,000 and its liabilities are ₹600,000, what is the equity of the shareholders?
💡 Hint: Apply the fundamental accounting equation.
Question 2
A company has ₹150,000 in Non-current Liabilities and ₹50,000 in Current Liabilities. If their total equity amounts to ₹300,000, what is the total amount of assets?
💡 Hint: Remember to include both types of liabilities when calculating assets.
Challenge and get performance evaluation