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Question Practice

After a business sells goods for cash costing ₹2,000 at ₹3,000, what is the effect on the accounting equation?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Recording of Transactions - I
Question Bank

After a business sells goods f...

Single Answer MCQ
Q-00053914

After a business sells goods for cash costing ₹2,000 at ₹3,000, what is the effect on the accounting equation?

1

Increase in Assets by ₹3,000, Increase in Capital by ₹3,000

2

Increase in Assets by ₹3,000, Increase in Liabilities by ₹2,000

3

Increase in Liabilities by ₹3,000, Increase in Assets by ₹1,000

4

Increase in Assets by ₹1,000, Increase in Capital by ₹1,000

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