Question

10.1f total assets of a business are 150000 & capital is 90000, the
amount of creditor will be-
100000 ii)90000 iii)*60000 iv) *50000
1)​

Answer 1

Answer:

Dual aspect concept defines that every business transaction will have its two effects. One for debit and one for credit. For every debit there will be a credit and vice versa. At the end, the total balance of debit must be equal to the total balance of credit.

In the given situation:

Total Assets = Capital + Outsider's Liabilities

150000 = 70000 + Outsider's Liabilities

Outsider's Liability = 150000 - 70000

Outsider's Liability = Rs. 80000