Q.8 If total assets of a business are ` 5,00,000 and net worth is ` 2,40,000. Calculate total liabilities.
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Answer:
Total Asset = 5,00,000
Net Worth= 2,40,000
Total liabilities= Total Asset - Total Net Worth
= 5,00,000 - 2,40,000
= 2,60,000
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