Statement of affairs is a

(a)

Statement of income and expenditure

(b)

Statement of assets and liabilities

(c)

Summary of cash transactions

(d)

Summary of credit transactions

The excess of assets over liabilities is

(a)

Loss

(b)

Cash

(c)

Capital

(d)

Profit

The amount of credit sales can be computed from

(a)

Total debtors account

(b)

Total creditors account

(c)

Bills receivable account 

(d)

Bills payable account

What is the amount of capital of the proprietor, if his assets are Rs. 85,000 and liabilities are Rs. 21,000?

(a)

Rs. 85,000

(b)

Rs. 1,06,000

(c)

Rs. 21,000

(d)

Rs. 64,000

Opening balance of debtors: Rs. 30,000, cash received: Rs. 1,00,000, credit sales: Rs. 90,000; closing balance of debtors is

(a)

Rs. 30,000

(b)

Rs. 1,30,000

(c)

Rs. 40,000

(d)

Rs. 20,000