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X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:
  • a)
    Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000
  • b)
    Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000
  • c)
    Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000
  • d)
    Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 a...
B)Cash decreased by Rs. 2,00,000
c)Bills payable increased by Rs. 8,00,000
d)Net increase in liabilities by Rs. 8,00,000.
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Community Answer
X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 a...
Purchasing assets of Rs. 10,00,000 will increase fixed assets and payment made by cheque of Rs. 2,00,000 will decrease current assets, at a result total assets will increase Rs. 8,00,000 (10,00,000-2,00,000)
By accepting bill for Rs. 8,00,000 will increase total liability.
Therefore both assets and liabilities will increase by Rs. 8,00,000.
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X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer?
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X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer?.
Solutions for X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice X Purchased land for Rs. 10,00,000. He gave a cheque of Rs. 2,00,000 and accepts a bill of Rs. 8,00,000 due after 60 days. As a result:a)Total assets increased by Rs. 10,00,000 & total liabilities decreased by Rs. 10,00,000b)Total assets increased by Rs. 8,00,000 & total liabilities decreased by Rs. 8,00,000c)Total assets increased by Rs. 8,00,000 & total liabilities increased by Rs. 8,00,000d)Total assets increased by Rs. 10,00,000 & total liabilities increased by Rs. 10,00,000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Commerce tests.
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