3.Calculate total assets if:Capital -₹ 2,00,000; Creditors - ₹ 50,000; Revenue during the year- ₹5,00,000 and expenses during the year- ₹4,00,000.(1 Point)

4.Fixed assets are also known as ----------------------.(1 Point)

5.Discount given to encourage prompt payment and which reduces bad debts is called------.(1 Point)

6.Assets which do not have physical existence and can’t be touched, seen but can be felt only are known as-----------------.(1 Point)

 

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