Multiple choice

A had a capital of Rs. 75,000. He also had goods amounting to Rs. 15,000 which he had purchased on credit and the payment had not been made. The value of the total assets of the business is

  1. Rs. 90,000

  2. Rs. 60,000

  3. Rs. 75,000

  4. Cannot be calculated

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Assets = Liabilities + capital, i.e. 75,000 + 15,000 = Rs. 90,000