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Accounting equation practice questions. Analyze the following transactions under the Accounting Equation Approach. What is the accounting equation. Sold goods costing 20000 at a profit of 25 on the cost.

Accounting equation for class 11 represents this dual principle of accounting and it is generally written as under. A Example What the business ownership represents B Assets What the business owes C Liabilities Answers. For deep understanding of accounting equation following are important accounting equation questions.

Identify the Debit Entry. By Kevin North Carolina USA Before you begin. Purchased goods for cash Rs30000 and credit Rs20000.

Debit Credit In Accounting Quiz. Following transactions are record in Accounting Equation. Free Accounting Equation Online Practice Tests.

Commenced business with cash Rs60000. Accounting Test Question With Answers On Accounting Equation and Debit And Credit _____ Page 9 ˇ ˆ ˇ ˇ ˇ ˆˇ Section A. You can always double-check your answer by going back to the original equation assets liabilities owners equity.

Read and download free pdf of CBSE Class 11 Accountancy Accounting Equation Worksheet Set A. For multiple-choice and truefalse questions simply press or click on what you think is the correct answer. The accounting equation exercises quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping discover another at the links below.

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