Outstanding business rent of Rs.15,000 was paid by the proprietor from his purse. The effect on...

 

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Outstanding business rent of Rs.15,000 was paid by the proprietor from his purse. The effect on the balance sheet is that A both liabilities and assets are increased B C both liabilities and assets are decreased liabilities are increased, while the assets are decreased D liabilities are decreased, while the assets are increased Outstanding business rent of Rs.15,000 was paid by the proprietor from his purse. The effect on the balance sheet is that A both liabilities and assets are increased B C both liabilities and assets are decreased liabilities are increased, while the assets are decreased D liabilities are decreased, while the assets are increased

Answer rating: 100% (QA)

B Both liability and assets are decreased The interrelationship between assets liabilities and capit... View the full answer