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What is the value of your asset, liability

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Question - Suppose you bought a house worth Rs 1 crores. To buy this house you took a loan of Rs 60 lakhs and the balance amount was paid from your savings. What is the value of your asset, liability and equity in this case?

a. Asset: 60 lakh, Equity: 40 lakh, Liability: 1 crore

b. Asset: 1 crore, Equity: 40 lakh, Liability: 60 lakh

c. Asset: 40 lakh, Equity: 1 crore, Liability: 60 lakh

Reference no: EM132951253

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