Accounting Mcqs

Q.  Which of the following statements is false ? select the false from below options

a. Balance Sheet discloses financial position of the business
b. A person who owes to the business is called Debtor
c. Decrease in the value of the asset could decrease the value of a liability
d. Assets are to be shown in the Balance Sheet at the realizable value


ANSWER: See Answer
 
fixed assets are to be shown in the Balance Sheet at their actual cost.
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