Theoretical FrameworkQ-2 | Meaning and Scope of AccountingQuestion 4940 of 110

$\displaystyle Capital + Long\ Term\ Liabilities = Fixed\ Assets + Current\ Assets + Cash - Current\ Liabilities$

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Detailed Solution & Explanation

False: Because Accounting Equation is:

\text{Capital} + \text{Long Term Liabilities} + \text{Current Liabilities} = \text{Fixed Assets} + \text{Current Assets}

Paper

Paper 1: Accounting

Weightage

5-10%

Key Topics

Policies, Standards (Ind AS), Vocabulary

This chapter covers Policies, Standards (Ind AS), Vocabulary and is part of Paper 1: Accounting in the CA Foundation exam.

Exam Strategy Tip

This topic carries 5-10% weightage. Focus on understanding core concepts rather than memorizing.

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