CA CPT Model Test Paper 3 with solutions for online practice

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Question : 4 of 200

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A purchased a car for Rs.5,00,000, making a down payment of Rs.1,00,000 and signing a Rs.4,00,000 bill payable due in 60 days. As a result of this transaction

Total assets increased by Rs.5,00,000.
Total liabilities increased by Rs.4,00,000.
Total assets increased by Rs.4,00,000.
Total assets increased by Rs.4,00,000 with corresponding increase in liabilities by Rs.4,00,000.

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