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Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
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Knowledge
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a Statement of Affairs?
💡 Hint: Think of it as a snapshot of business finances.
Question 2
Easy
What do we subtract to find net profit?
💡 Hint: Consider the timeline - where did we start and where are we now?
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 is included in a Statement of Affairs?
- Only assets
- Only liabilities
- Both assets and liabilities
💡 Hint: It's a financial overview, think of what you would check.
Question 2
True or False: The Statement of Affairs can only be prepared with complete records.
- True
- False
💡 Hint: Consider what it helps achieve.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A retailer starts with ₹1,00,000 in capital. Over the accounting period, the closing capital is ₹1,20,000, with ₹5,000 in additional investments and ₹3,000 in withdrawals. Calculate the profit.
💡 Hint: Break the calculation into steps!
Question 2
After preparing their Statement of Affairs, a café finds their opening capital is ₹10,00,000 and closing capital is ₹12,00,000. They also had ₹1,00,000 in withdrawals. What is their profit?
💡 Hint: Remember to adjust correctly for withdrawals.
Challenge and get performance evaluation