Which of the following equation(s) is (are) true

(a)

Assets = Liabilities + Capital

(b)

Assets - Capital = Liabilities

(c)

Both (a) & (b)

(d)

None of these

A firm's total sales is Rs. 80,000 and its credit sales id Rs. 60,000 then its cash sales is _________

(a)

Rs. 20,000

(b)

Rs. 1,40,000

(c)

Rs. 70,000

(d)

Rs. 25,000

Creditors on 1.1.2014 is Rs. 1,21,000 and on 31.12.2014 Rs. 1,30,000. Cash paid to creditors during the year is Rs. 2,09,000. Then the credit purchase during the year is ____________

(a)

Rs. 2,00,000

(b)

Rs. 2,09,000

(c)

Rs. 2,18,000

(d)

Rs. 2,08,000

Companies cannot keep books on single entry system because of ______________

(a)

Tax Properties

(b)

Legal Provisions

(c)

Both (a) & (b)

(d)

None of these

Capital at the end - net profit + drawings = 

(a)

Capital in Beginning

(b)

Gross profit

(c)

Interest on capital

(d)

Interest on drawings