An institution has assets of ₹15 lakh and liabilities of ₹6 lakh Its net assets/equity, ignoring other adjustments, are:

Type: MCQ • Marks: 1

A. ₹6 lakh

B. ₹9 lakh

C. ₹15 lakh

D. ₹21 lakh

Explanation

Equity = Assets − Liabilities = ₹15 lakh − ₹6 lakh = ₹9 lakh.

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UPSC Principal & Vice Principal Management Finance Administration

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