Question

Q.8. : If there are no liabilities, assets of the business is equal to its capital. (T/F)
Q.9.: On which side increase in debtors is recorded?
Q.10. : Give two objectives of accounting standards.
11 Accounting standards ancuror
abiliti af financial
and​

Answer 1

Explanation:

Ans8:

True

Ans9:

In balance sheet it is recorded in assets side and in trial balance it is recorded in dr. side

Ans10:

• To provide information to users about the policies adopted in the preparation of financial statements
• To provide information to users about the policies adopted in the preparation of financial statementsTo remove the effect of diverse accounting policies and practice

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