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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Anybody wants accounts book new addition at price 450 new book |
| Answer» ₹550 | |
| 2. |
What is valuation of closing stock? |
| Answer» Cost price or market price, which ever is lower | |
| 3. |
Unit test question paper |
| Answer» | |
| 4. |
When do we preplan rbs,why? |
| Answer» | |
| 5. |
Goods worth Rs25000 and cash Rs40000 were taken away by the proprietor for his personal use |
| Answer» Drawings A/c Dr. 65000To purchase 25000To cash 40000 | |
| 6. |
Acoountancy |
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Answer» Accounting is a systematic manner of identifying measuring classification recording and analysing interpreting and fire and financial transaction of to the user ???? |
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| 7. |
Prepare two column cash book |
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Answer» Dr . Date . Particular . LF . Cash . Bank . Again same Dr.Date. Particular. V. No. L.f. cash bank Same as in credit side |
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| 8. |
Recieved half of the amount by cash and balance by cheque |
| Answer» Cash A/c. DrBank A/c. DrTo .............A/c | |
| 9. |
What is a ledger? What is the purpose and use after journal? What is the importance |
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Answer» After recording the business transaction in the Journal or special purpose Subsidiary Books, the next step is to transfer the entries to the respective accounts in the Ledger. Ledger is a book where all the transactions related to a particular account are collected at one place. Its just a summarised record of all the assets and liabilities |
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| 10. |
What is the journal entry of insurance premium paid by cheque |
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Answer» Insurance premium a/c dr. To bank a/c (Being insurance premium paid) Insurance premium a/c Dr To bank a/c. cr Isurance premium a/c Dr. To bank a/c(Being insurance premium paid) |
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| 11. |
What is journal entry of purchased a computer and paid by cheque |
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Answer» Computer account dabit / TO Cash account Computer a/c dr. To cash a/c(Being purchased computer) Purchase a/c Dr To bank a/c Computer a/c. Dr. To bank a/c |
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| 12. |
Journal entry how to do |
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Answer» Rule-Debit the receiver Credit the giver Cash a/c dr.2000Discount receive a\\c dr.500To capital a\\c. 2500 Cash a/c dr. | 2000| To capital a/c | 2000|............cash a/c dr.|500| To discount received a/c |500| Cash a/c dr.| 2000 |Discount received dr.| 500 | To capital a/c | | 2500 Started business with cash 2000 and received discount 500 |
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| 13. |
Explain the term going concern concept |
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| 14. |
Short note on English approach |
| Answer» | |
| 15. |
Business started with cash ₹10000 |
| Answer» Cash A/C Dr... 10000 To Capital A/C. 10000 | |
| 16. |
Meaninng of IFRS |
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Answer» IFRS are Principle based accounting standards International Financial Reporting Standards, usually called IFRS, are standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. |
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| 17. |
Can anyone tell me some imortant terms of first 8 chapters |
| Answer» | |
| 18. |
Bases of accounting |
| Answer» 1] Business Entity ConceptThis accounting concept separates the business from its owner. As far as accounting is concerned the owner and the business are two separate entities. This will help the accountant identify the business transactions from the personal ones. All forms of business organizations (proprietorship, partnership, company, AOP etc) must follow this assumption.So for example, if the owner brings in additional capital into the business, we will treat this as a liability on the balance sheet of the business.2] Money Measurement ConceptThis accounting concept states that only financial transactions will find a place in accounting. So only those business activities that can be expressed in monetary terms will be recorded in accounting. Any other transaction, no matter how significant, will not find a place in the financial accounts.So for example, if the company underwent a major management overhaul this would have no effect on the accounting records. This concept is actually one of the major drawbacks of accounting.3] Going Concern ConceptThe going concern concept assumes that a business will continue to operate indefinitely. So it assumes that for the foreseeable future the business will not be winding up. This leads to the assumption that the business will not have to sell its assets any time soon and it will meet all its obligations as well | |
| 19. |
I not understand double column cashbook |
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Answer» I am also? Ladger |
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| 20. |
Purchase a computer and Paid by cheaque |
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Answer» Sorry its To bank a/c here Computer a/c dr To cash a/c Why i purchase |
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| 21. |
How to solve accounting equation |
| Answer» | |
| 22. |
What important notes |
| Answer» | |
| 23. |
What Will happen if accounting principal are not followed by the organization |
| Answer» Then there is not any comparison of intra firm as well as inter firm | |
| 24. |
Trade discount entry |
| Answer» Trade discount is not shown in books of accounts . | |
| 25. |
Students arr are allowed to use calculator in accountancy and statistics?? |
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Answer» ?no Calculator not allowed in cbse |
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| 26. |
Credit side of pass book undercast by 500 |
| Answer» -500 | |
| 27. |
What comes in |
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Answer» Debit what comes in credit what goes out Debit comes in (real account) |
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| 28. |
Name the accounts which should not be considered while preparing trial balance |
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| 29. |
Paid for stationary$1000, paid rent by cheque$4000,journal entry |
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Answer» Stationery A/C DR. 1000 To cash A/C.Rent A/C DR. To bank A/C.4000 Rent A/C Dr. 4000 To bank A/C. Cr. 4000Stationery A/C. Dr. 1000 Cash A/C. Cr 1000 Rent a/c dr 4000 To bank a/c 4000 Stationary a/c dr 1000 To Cash a/c 1000 |
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| 30. |
Story of business transactions for comprehensive project of accounts for class 11th |
| Answer» Did your class teacher not told to you that bussiness transaction is an transaction of good and servicess for startup of bussiness to it\'s end . and more information can get on arrising about what did you need information was according to your questionOK | |
| 31. |
Received cash from bharat rs.5900 and discount allowed rs.100 pass journal entry |
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Answer» Hope it will help you? Cash A/C dr 5900Discount allowed A/C dr 100 To Bharat 6000 |
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| 32. |
Golden rule theory? |
| Answer» | |
| 33. |
Discount in a purchase is a debit or credit ? |
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Answer» Dr. Debit Debit Credit |
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| 34. |
Accountancy class 11th part 2 chapter 1 13th question solution |
| Answer» | |
| 35. |
Rent due but not paid how to entry journal |
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Answer» Rent A/c. Dr To outstanding rent Rent A/C dr.To outstanding rent |
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| 36. |
Journal ka question kaise solved karte hai |
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Answer» Journal me percentage kaise nikalte hai illustration samaghme nahi araha hai Entry karna pada ga tum illustrarions karka dheko chapter ka Uska entry krna padta hai |
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| 37. |
debit or credit samjhado class 11 ke liye plzzz mukhe ye consept clear ni hua |
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Answer» This is very easy concept. I will try to make it easy for you.Each and everything is came in one of 5 head. Capital, Income, Expense, Asset, Liability.1. Capital: capital is internal liability of the company. So whenever capital is introduced the capital account will be credited and whenever the amount is withdrawn the capital account is debited.2. Income: income is the amount which is earn by the company so whenever company or person earn something that will be treated as income. When income is earn it will be credited.For example A made a sale to B of Rs. 5000. Cash will be increase by sale then following entry will be pass:Cash A/C ............Dr To Sales A/C3. Expense: expenses are the reverse of Income.4. Asset: Assets increases by debiting and decreses by crediting5. Liability: Liability is also same as capital. When assets came to business it is said to be debited .And on the other hand when aset decrease it is said to be credited |
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| 38. |
helo freind kya app mujhe ye bataoge 11 class ki acounts without tution pad sakta hu |
| Answer» Yes | |
| 39. |
Practical problems question no 4,5 |
| Answer» | |
| 40. |
I want a project of accounts including gst |
| Answer» Contact me on watsapp-9031352043I will send all pictures of my project | |
| 41. |
Sold goods for cheque which was deposited in bank on the same day 5,000 |
| Answer» Bank A/C_dr. 500To Sales A/C 500 | |
| 42. |
Dinesh started bussiness with case rs.500000 |
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Answer» cash A/c .....Dr. 500000 To Capital A/c. 500000 Sir i have a big doubt in journal |
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| 43. |
Sir I am big dobt in journal entry |
| Answer» What is doubt | |
| 44. |
Brs all information |
| Answer» | |
| 45. |
What is secrurity deposit |
| Answer» Compensation fund . It is stored by company for any unfortunate accident e.g labour loss his/her hand during mining or other work | |
| 46. |
Meaning off nigmit nikay |
| Answer» | |
| 47. |
All the formulas of chapter 6 accounting equation |
| Answer» There is only one formula for This chapterAssets=liabilities +capital | |
| 48. |
Explain different types of companies |
| Answer» On the basis of ownership, companies can be divided into two categories –Private & Public.\tPrivate Co.Public Co.It has minimum 2 and maximum 50 members.It has minimum 7 and maximum unlimited.It cannot invite general public to buy its shares and debentures.It invites general public to buy its shares and debentures.There are certain restrictions on transfer of its shares.Its shares are freely transferable.It can commence business after incorporation.It can commence business after obtaining certificate of commencement of business.It has to write Private Ltd. After its name \xa0Ex- Tata Sons, Citi Bank, Hyundai Motor India.It has to write only limited after its name \xa0Ex- Reliance Industries Ltd., Wipro Ltd. , Raymond’s Ltd.In its minimum capital required is one lakh.In its minimum capital required is five lakhs.\t | |
| 49. |
Cash sales Rs2000 |
| Answer» Cash a/c dr 2000 To Sale a/c 2000 | |
| 50. |
que which includes leger trial balance subsidiary book |
| Answer» | |