An owner of a business contributes ₹ 20,00,000 as capital. 30% of the amount was brought in cash and the remaining was kept in a bank account in the name of the business. What would be the total of assets in the Balance sheet?
6,00,000
14,00,000
20,00,000
None of these
Sold goods worth ₹ 86,000 for ₹ 98,000. A cash discount of 10% was offered to the customer if payment is settled immediately. The customer took advantage of the offer and transferred the amount immediately through internet banking. What will be the value of the sale?
86,000
98,000
77,400
88,200
Goods costing ₹ 19,000 was taken by the owner from business for personal use. The value of the goods taken by the owner will be treated as __________ in the books of the company
Expenses
Income
Liability of the Company
Drawings by the owner
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The IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 27 Oct 2024, in the September 2024 term: 23 questions for 25 marks in 120 minutes. The first 3 questions are below. Sign in with Google — it is free — to see the whole paper with its answers and explanations, in learning mode or as a timed mock test.
| Feature | Financial Forensics Quiz 1 27 Oct 2024 at a glance |
|---|---|
| Term | September 2024 term |
| Subject | Financial Forensics |
| Course code | BSMS4003 |
| Questions | 23 |
| Marks | 25 |
| Duration | 120 min |
| MCQ | 11 |
| Numerical | 10 |
| MSQ | 2 |
| Official paper | IIT M DEGREE AN EXAM QDB2 27 Oct 2024 |
| Negative marking | No negative marking. |
| Updated |
