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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define assets.
💡 Hint: Think about what the business has.
Question 2
Easy
What are liabilities?
💡 Hint: Consider what the business needs to pay.
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
What are the three main components of financial position?
- Assets
- Liabilities
- Capital
- Accounts
- Revenue
- Expenses
- Profit
- Loss
- Balance
💡 Hint: Think about what makes up a balance sheet.
Question 2
True or False: Capital represents the owner's investment in the business.
- True
- False
💡 Hint: Consider what would remain after paying off debts.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a business has assets totaling ₹80,000 and ₹30,000 in liabilities, what is the owner's equity or capital?
💡 Hint: Use the accounting equation.
Question 2
Analyze how the increase in liabilities might affect a company's capital, using an example.
💡 Hint: Think about what the company has to pay.
Challenge and get performance evaluation