Class 11 Important Questions Accountancy Chapter 5 Accounting Equation
Question 1:
Which of the following will be the resulting effect of the transaction “Commission received in advance” in accounting equation?
(a) Increase in Assets & Decrease in Capital
(b) Increase in Assets & Increase in Liability
(c) Increase in Capital & Decrease in Capital
(d) Increase in Liability & Decrease in Capital
