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Accounting Process and Bookkeeping Fundamentals
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The assets on 31.12.2001 is of Rs. 60, 000 and the capital is of Rs. 45, 000. Its liabilities on that date shall be
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A
Rs. 15, 000
💡 Explanation:
The fundamental accounting equation is: Assets = Capital + Liabilities. Therefore: Liabilities = Assets - Capital = 60,000 - 45,000 = 15,000. Option A incorrectly uses the asset value. Option B incorrectly adds capital and assets. Option D is unnecessary as option C is correct.