Explore topic-wise InterviewSolutions in Class 11.

This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.

1.

Depreciation chapter ka practical question wDV method

Answer»
2.

Who to enter sales book??

Answer» Munim/cashier
3.

All answers of book of TS grewal of accountancy +1 classs chapter 12 from pg no. 12.45 - 12.54

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4.

In jurnal ehtry transaction input and output gst where will come

Answer» When purchase or purchase return-input ; and other is -output
5.

Interest on captial

Answer» Interst on capitalTo cash
6.

A man become insolvent

Answer» We will open......cash a/c dr. Bad Debts a/c dr. To ram a/c cr.<br>Bad debts<br>Nnkkk
7.

Classify the following accounts into assets, liabilities, capital, losses, gains

Answer» Assets are in real Liabilities and capital are in personal Losses and gains are in nominal account
8.

Rectify the following errosBought goods from ram rs 1000 was omitted to be recorded

Answer» Purchase A/c dr 1000 To ram\'s A/c. 1000<br>Purchase A/c dr 1000 To ram A/c. 1000
9.

Which accounts are not considered while preparing the trial balance and why

Answer» Thanks<br>Closing stock is not considered in preparation of trial balance becoz.. closing stock is not a part of ledger.. ... The trial bal. Prepare after ledger .. .. . But closing stock is always presence in trial bal.. but it is hidden in purchase .... If in the sum ..only purchase is given , so opening stock is appear but closing stock is not appear If in the sum purchase Adjusted is given , so closing stock is appear and opening stock is not appear.
10.

explane theory of accountancy

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11.

Increase in one asset is accompained by.......

Answer» Decrease in asset like cash or bank or may be we purchased on credit then it will increase creditors
12.

What is proprietor?What is revenue?What is net worth?

Answer» Proprietor means the owner of the business Revene means income of the during period.Net worth .. means the total purchase of the during period.<br>Proprietor is the owner of business .Net worth is the capital ( amount) invested by the owner in business.
13.

What is Bank Reconciliation Statement?

Answer» A schedule showing the items of difference between the bank statement and the bank column of Cash Book is known as Bank Reconciliation Statement.
14.

Where should we put the cld and bld

Answer» C/d put at the end of accounting period.B/d put at the starting of accounting period.<br>C/d that we put lower when all entries done our last c/d is our next day opening balance<br>B/d means opening balance that we on top
15.

Who is father of accounting

Answer» Luca Pacioli<br>Luca pacioli<br>Where should we put the cld and bld<br>Luca Pacioli: The Father of Accounting. In 1494, the first book on double-entry accounting was published by Luca Pacioli. Since Pacioli was a Franciscan friar, he might be referred to simply as Friar Luca. While Friar Luca is regarded as the "Father of Accounting," he did not invent the system.\xa0
16.

Anobidy explain me depreciation chapter q14 in dk goel

Answer» It is the decreasing in amount of such asset due to passage of time
17.

Explain in short the meaning of an accounting equation.

Answer» An Accounting equation is based on the dual concept of accounting, according to which, every transaction has two aspects namely Debit and Credit. It means that every transaction in accounting effect both Debit (DR.) and Credit (Cr.) side equally.Total assets of the business firm are financed through the funds raised from either the outsiders (which consists generally Creditors and lenders) or the Owners (which is called Capital).
18.

What is GST.can you breffly described it ????

Answer» Goods and Services Tax is an indirect tax imposed in India on the supply of goods and services.<br>GST is defined as goods and service tax and indirect tax is imposed on US and so many taxes are involved and government try to make this very simple so they add GST on goods and services so basically it is of two types that is interstate GST and intra State GST in interstate GST the sale or purchase is held between a single state it is also sub divided into two part that is cgst and sgst that means Central goods and service tax state good and service tax about intra State GST it is taken when there is a sale and purchase between two different state
19.

Define capital receipt

Answer» It is the amount recived to a business man against tge sale of assets . It decrese the balance and value of assets
20.

acountancy is easy or hard

Answer» If we take interest in this then it will be very easy to study<br>Ease<br>At the first time I studied accountancy I thought that it is very tough and really it was tough I don\'t know I can\'t say anything about that but now I can think that easy it is not that much tough it is actually mediocre level<br>First consontrate on your raws as quesstion data then follow rule It become very eassy for you<br>Bhut hard bhut hard t<br>If you focus on concepts then it is pretty easy<br>Accounting principles any 4<br>Easy
21.

Is cash assets or liabilities?

Answer» Cash is an assets<br>Asset<br>Cash is asset<br>Yes cash is a asset for the business<br>Cash<br>Asset<br>Cash is asset
22.

GST characteristics and advantages

Answer» GST Advantages\tGST is a transparent tax and also reduce number of indirect taxes.\tGST will not be a cost to registered retailers therefore there will be no hidden taxes and and the cost of doing business will be lower.\tBenefit people as prices will come down which in turn will help companies as consumption will increase.\tThere is no doubt that in production and distribution of goods, services are increasingly used or consumed and vice versa.\tSeparate taxes for goods and services, which is the present taxation system, requires division of transaction values into value of goods and services for taxation, leading to greater complications, administration, including compliances costs.\tIn the GST system, when all the taxes are integrated, it would make possible the taxation burden to be split equitably between manufacturing and services.\tGST will be levied only at the final destination of consumption based on VAT principle and not at various points (from manufacturing to retail outlets). This will help in removing economic distortions and bring about development of a common national market.\tGST will also help to build a transparent and corruption free tax administration.\tPresently, a tax is levied on when a finished product moves out from a factory, which is paid by the manufacturer, and it is again levied at the retail outlet when sold.\tGST is backed by the GSTN, which is a fully integrated tax platform to deal with all aspects of GST.
23.

Journal of capital

Answer» Cash A/c dr. To capital A/c.<br>The aim of the Journal of Capital Markets Studies (JCMS) is to publish high-quality research in the areas of economics and finance with a specific focus on capital markets. The journal proposes to arm its readership with the latest research and commentary in all areas associated with the capital markets.
24.

What is Bill after sight

Answer» On the basis of the due date there are two types of bill of exchange: * Bill of Exchange after Date: In this case the due date is counted from the date of drawing and is also called bill after date. * Bill of Exchange after Sight: In this case the due date is counted from the date of acceptance of the bill and is also called bill of exchange after sight.
25.

Opened bank account by cheque from saving account

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26.

what is capital ?

Answer» Capital is money which is invested by the owner in Business<br>Calital is the investment done by business man in his business in form of cash , building etc
27.

Difference between loss and expense

Answer» Expenses get benefit but loss notExpenses are certain but loss not certain<br>The amount which is invested in producing or seliing of goods is called expense<br>Expenses are karche in local language
28.

Do we need to write the format pf journal ( date, particulars n ...) When page changes ?

Answer» Yes<br>Yes<br>Yes, along with the total from the previous page.<br>No
29.

You tell me why using account

Answer»
30.

personal account

Answer» These accounts are related to individuals, firms, companies, etc. A few examples of personal accounts include\xa0debtors, creditors, banks, outstanding/prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.Natural personal accounts: This\xa0type\xa0of personal accounts is the simplest to understand out of all and includes all of God’s creations who have the ability to deal, who,\xa0in most cases, are people.\xa0E.g.\xa0Kumar’s A/C, Adam’s A/C, etc.Artificial\xa0personal accounts:\xa0Personal accounts which are created artificially bylaw, such\xa0as corporate bodies and\xa0institutions, are called Artificial personal accounts.E.g.\xa0Pvt Ltd companies, LLCs, LLPs, clubs, schools,\xa0etc.Representative personal accounts:\xa0Accounts which represent a certain person or a group directly or indirectly.\xa0E.g.\xa0Let’s\xa0say that wages are paid in advance to\xa0anemployee – a\xa0wage\xa0prepaid account will be opened in the books of accounts. This wages prepaid account is a representative personal account indirectly linked to the person.
31.

Goods

Answer» Goods are those physical products which are delievered to the buyer and also the ownership of goods from the seller to the buyer
32.

What is voucher. In easy ..?

Answer» Vohcher is proof for bussoness transaction<br>It is like a proof or documentary evidence for the transactions is called voucher
33.

A and B are the partner sharing 1/4 the profit of ratio 5:3

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34.

Paid for shyam sundar\'s life insurance premium 1200

Answer» Drawings a/c Dr.1200 To cash A/c. 1200
35.

What is talli

Answer» Tally Accounting is a software used for accounting purposes.
36.

Bank Allowed interest what the journal entry of this?

Answer» Bank a/c. Dr. To int. On bank a/c
37.

NCERT Recording of Transactions I Page 96 Question 21

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38.

Solving journals

Answer» Hi<br>What u want to ask ?<br>Nice
39.

Issued cheque for rent 3000

Answer» Rent a/c dr. 3000 To bank a/c. 3000<br>Rent a/c. Dr. To bank a/c
40.

Sold goods costing 9000 to nikhil invoice at 20% above cost less 5% trade discount

Answer» Nikhil A/C Dr. 10260 To Sales A/C Cr. 10260
41.

Format of purchase book

Answer» Date. Particular. In. Lf. Details. Purchases. I.s. i.c. i.i. total amount
42.

cash basis

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43.

How to solve accounting eq

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44.

Withdraw goods for personal use ( cost Rs 5,000 + IGST @ 18% , sale price Rs 7,000 )

Answer» Drawings A/c. Dr. 5900 To Purchases A/c 5000 To Input IGST A/c 900
45.

Withdraw goods for personal use ( cost Rs 5,000 [email\xa0protected] 18% sale price Range 7,000 )

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46.

goods worth 10000 distributed as free samples

Answer» Free sample / Advertisement A/C ......Dr. 10,000 To Purchase A/C 10,000<br>Its an expense
47.

In journal accounts a salary is an what type of account

Answer» Debit(expense)<br>Journal accounts asalary
48.

What is liabilities with examples

Answer» Liablities are debts or obligations that a business enterprises has to pay in future<br>Libilites means when businees owes some consideration to other. In hindi language it is कर्ज़ा. Ex-bank loan
49.

What isdouble entry system

Answer» \tDouble Entry System is a complete and scientific system of accounting in which both the aspects of a transaction are recorded. Every business transaction has a two-fold effect.\tIt is this recording of the two-fold effect of every transaction that has given rise to the term Double Entry System.\tStages of double entry system include recording, classification and summarising. Recording in Journal or subsidiary books is the first stage of double entry system.\tSecond stage states that transactions are transferred in a cla...\xa0\tIn final stage, all the accounts in the ledger are balanced and put in a list, debit balances on one side and credit balances on the other side.\tFeatures of double entry system are every transaction affects atleast two accounts, aspects may be personal or impersonal, rule based and preparation of trial balance.
50.

When purchase any goods in gst chapter ........discount will substract or add

Answer» Substract