Question

The first item on assets side of the balance sheet of a co opeartive society is?

Answer 1

Answer:

fixed assets is the answer

Answer 2

Concept: Balance sheet of co-operative society is also known as the Financial statement of the co operative society. It provides the whole picture of the society's financial status at the end of the financial year.

Find: What is the first item on assets side of the balance sheet of a co operative society?

Solution: The first item on asset side of the balance sheet of a co operative society is Fixed assets. Fixed assets are those assets which have more than one year life.

Final answer: Fixed asset is the first item of the balance sheet on asset side.

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