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Financial Forensics · Quiz 1 · 7 Jul 2024 · May 2024 term

Question 19: A company purchased machinery worth ₹ 7,50,000 on Januar…

Question 19

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A company purchased machinery worth ₹ 7,50,000 on January 2nd from a vendor. The company paid 50% of the amount in cash, and the remaining 50% was taken on credit from the vendor for 30 days. How many changes must be made to the balance sheet to account for this transaction?

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Correct answer: 3

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Question 19 of 29 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 7 Jul 2024, in the May 2024 term (IIT M DEGREE AN EXAM QDB2 7 July 2024). It carries 1 mark.

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