Q. A firm reports total liabilities of Rs. 300,000 and owner’s equity of Rs. 500,000. What would be the total worth of the firm’s assets?
a. Rs. 300,000
b. Rs. 500,000
c. Rs. 800,000
d. Rs. 1100,000
Assets = Liabilities + Owner’s Equity
= 300,000 + 500,000
= 800,000
