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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. |
How many types of asset are there? 2 or 3I\'m confused always |
| Answer» 3 types of assets but 3 is not important | |
| 2. |
500 rs paid for rent wrongly debited to land lord account |
| Answer» | |
| 3. |
Cheque paid into bank ₹8000 but out of these only cheque of ₹6500 credited by bankers |
| Answer» no | |
| 4. |
Inangible assets compromise of what |
| Answer» | |
| 5. |
Page no. 172 question 4th....N.C.R.T |
| Answer» Balance as per passbook rs 40,245 | |
| 6. |
Why closing stock is treated as revenue in trading account |
| Answer» As it will be our asset | |
| 7. |
Jronal |
| Answer» | |
| 8. |
Goods costing 800 purchased from sachin on credit were omiyted to be credited to his accounts |
| Answer» | |
| 9. |
goods costing 800 puchased from sachin on credit were omitted to be credited to his account. |
| Answer» | |
| 10. |
I won\'t understand this subject |
| Answer» | |
| 11. |
One transaction which will decrease the liability and increase the capital? |
| Answer» | |
| 12. |
Sale of good 6000 to madan were recorded as 600 in the sales book |
|
Answer» Madan Ac....Dr 5400 To sales Ac....5400 suspense A/C Dr. 5400 To Sales A/C. 5400 |
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| 13. |
What Is Correlation |
| Answer» Correlation refers to the statistical difference between two different variables. For example demand and supply or demand and price. | |
| 14. |
Define source documents |
| Answer» | |
| 15. |
What is meant by debit voucher |
| Answer» These vouchers are prepared when cash payments are made to third parties. The purpose of preparing these vouchers is to record the concerned transactions involving cash payment. | |
| 16. |
Profit is a assest or liability |
| Answer» 5650 | |
| 17. |
Gyuzz please help me what is reserves? |
|
Answer» Reserve is an approriation of profits Reserve means a particular amount is saved for an unknown liability |
|
| 18. |
What is trading account |
| Answer» Trading a/c is the first part of financial statements which shows the result of buying & selling of goods & services during an accounting period. | |
| 19. |
What is Real account |
| Answer» Those accounts which can be touched and feel is called real account. | |
| 20. |
What is a merchandise??? |
|
Answer» Merchandise in accounting means goods for resale Merchandise means promotion or advertisement |
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| 21. |
What is transaction? |
| Answer» Transection are made when we purchase or sale anything\u200b | |
| 22. |
Y indebted to X |
| Answer» | |
| 23. |
Debil side of pass book is undercast ruppees 100 . |
| Answer» Then you could just add 100 to the passbook | |
| 24. |
Chapter 20 2nd question |
| Answer» | |
| 25. |
2nd question |
| Answer» | |
| 26. |
Capital |
| Answer» | |
| 27. |
Provision ? |
| Answer» | |
| 28. |
What is the use of suspense account |
| Answer» Suspense a/c is placed to full the difference between debit and credit a/c | |
| 29. |
State briefly the necessity of providing depreciation. Plzzzz give answer |
| Answer» To ascertain the correct profit or loss | |
| 30. |
Suspence account |
| Answer» When the debit side and credit side is not matched..then we open suspense a/c...its main character is that both side amount is diffrent | |
| 31. |
The following are the balance of messrs gupta & co. as at 31 march 2009 |
| Answer» | |
| 32. |
What is meant by noting chsrges |
| Answer» Noting charges are those charges that are paid to the lawyer to have a written consent by the drawee that he has dishonoured the bill of exchange.this consent is important because if the drawer approaches the court due the non payment of bill then drawer may not shuffle his words by giving any excuse for eg he may please the court that he dod not make the payment becaus the bill was not presented to him | |
| 33. |
How we make suspense account? |
| Answer» | |
| 34. |
How to calculate bad-debts, discount & pdd |
| Answer» | |
| 35. |
Interest paid on overdraft not entered in cash book |
| Answer» | |
| 36. |
Which system of accounting is widely used |
| Answer» Double entry system | |
| 37. |
What is acount |
| Answer» Sabarh hai ki nahi | |
| 38. |
What is legacy |
| Answer» | |
| 39. |
Why capital is recorded cr. Side of Trial balance |
|
Answer» Yes,it is internal liability of the business entity Kind of liability i think |
|
| 40. |
Why capital is recorded liability side of Balance sheet . |
| Answer» | |
| 41. |
What is sundry debtors |
| Answer» Because money owes by the business as same sale on credit | |
| 42. |
Journal entry of petty cash book |
| Answer» Petty cash A/c Dr. To cash A/c | |
| 43. |
Non operating profit |
| Answer» Profit earned from the sources other than main business operations. | |
| 44. |
Sir tell me rent for permises sublet which so |
| Answer» | |
| 45. |
What is meant by retiring an bill under rebate |
| Answer» making payment of Bill before maturity date To drawer by allowing small relief amount | |
| 46. |
Credit bank balance will be asset or liability??! |
| Answer» libality | |
| 47. |
Difference between gain and profit ? |
| Answer» Gain is extra received on sale of assets but profit is benefit from regular activities of business as sale /purchase | |
| 48. |
Purchase from ram pal of 1430 posted his accunt as 1340 Rectify this entry |
| Answer» Suspense A/c. Dr. 90 To ram pal. 90 | |
| 49. |
Deprotonation |
| Answer» | |
| 50. |
Format to two columb cash book |
| Answer» Date, particular, cash, bank, date, particular, cash, bank | |