4.3.3 - Ascertain financial position
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Practice Questions
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Define assets.
💡 Hint: Think about what the business has.
What are liabilities?
💡 Hint: Consider what the business needs to pay.
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Interactive Quizzes
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What are the three main components of financial position?
💡 Hint: Think about what makes up a balance sheet.
True or False: Capital represents the owner's investment in the business.
💡 Hint: Consider what would remain after paying off debts.
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Challenge Problems
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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.
Analyze how the increase in liabilities might affect a company's capital, using an example.
💡 Hint: Think about what the company has to pay.
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