InterviewSolution
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InterviewSolution
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.
| 551. |
(Miscellaneos receipt) posting in final account |
| Answer» On cr. Side of profit and loss a/c.... | |
| 552. |
Computer in accountig impotant questions |
| Answer» | |
| 553. |
What is golden rule? |
| Answer» a basic principle that should always be followed to ensure success in general or in a particular activity. | |
| 554. |
How to do transactions of bills of exchange |
| Answer» In books of Drawee.Creditor dr. 10000To B/P a/c 10000<br>Ex transaction -goods sold to Ramu n drew a bill for Rs.10000.Entry- In books of drawer .B/R a/c dr 10000To Ramu. 10000<br>Gerenal entry jese karni h | |
| 555. |
Aruna decided to start business |
| Answer» If you want to ask for entry in journal then Cash a/c dr. Amm.To Capital a/c. Amm.<br>What\'s the question ????<br>So what . What is your question?? | |
| 556. |
Meaning of rebate |
| Answer» It is amount paid to you because you pay money on time or before time<br>a sum of money that is given back to you because you have paid too much<br>A rebate is an amount of money which is paid to you when you have paid more tax, rent, or rates than you needed to. | |
| 557. |
Sold good to dev |
| Answer» Dev A/c. Dr. To sales A/c<br>Dev a/c dr... To sales a/c<br>Dev A/c. Dr To sales A/c | |
| 558. |
How to treat Drawings A/C when given inside the Trial balance??? |
| Answer» Only deducted from capital as it is given inside the trial balance and is already adjusted.<br>It is shown on the cr. side of P&L Account. At the same time ,it is an expense from the proprietor\'s view and hence will be deducted from the capital on the liability side of the balance side.Ok dear????<br>Deducted from Capital. | |
| 559. |
A question containing journal ledger trail balance final acconts |
| Answer» | |
| 560. |
Comprehensive problem for account class 12 |
| Answer» | |
| 561. |
Treatment of proposed dividend of current year in cash flow statement |
| Answer» Cash flow statement is not in the syllabus of class 11 | |
| 562. |
What are the difference between capital receipts and revenue receipts |
| Answer» <th>BASIS FOR COMPARISON</th> <th>CAPITAL RECEIPT</th> <th>REVENUE RECEIPT</th> \t\t\tMeaningCapital Receipts are the income generated from investment and financing activities of the business.Revenue Receipts are the income generated from the operating activities of the business.NatureNon-RecurringRecurringTermLong TermShort TermShown inBalance SheetIncome StatementReceived in exchange ofSource of incomeIncomeValue of asset or liabilityDecreases the value of asset or increases the value of liability.Increases or decreases the value of asset or liability\t | |
| 563. |
What is opening journal entry ⛄?? |
| Answer» Opening entry is the journal entry through which the closing balances of the previous year are recorded in the current year\'s books of account. While passing an opening entry , all assets accounts are debited and liabilities accounts are credited.<br>When next financial year begins, the accountant passes one journal entry at the beginning of every financial year in which he shows all the opening balance of assets and all the liabilities include capital. That journal entry is called an opening journal entry. | |
| 564. |
Explain constant purchasing power assumption in IFRS |
| Answer» | |
| 565. |
What is adjusted purchase ❓❔❓❓❔ |
| Answer» If adjusted purchas is given in T.B it means op. And cl. Stock is adjusted.<br>If closing stock is given in trial balance. It will shown in the B/S.<br>Adjusted purchase = Opening stock + Net Purchase - Closing stock. | |
| 566. |
Mohan sold machiney on credit prepare a journal entry |
| Answer» Debtor\'s A/c. Dr To machinery A/c<br>Mohan Account dr. To Machinery Account | |
| 567. |
20 tranctions with journal entries , ledger ,and trial balance |
| Answer» | |
| 568. |
Plz give answer of question no 12 of practical problem chapter no 19 |
| Answer» of which book ?<br>Kon se book se | |
| 569. |
Difference between reserve and provision? |
| Answer» u get from books ? | |
| 570. |
Journalise : sold goods costing Rs.3000 to varun for Rs. 3750 plus CGST 6% and SGST 6% |
| Answer» Thanks Abhik<br>Varun A/c Dr. 4200 To Sales A/c 3750 To Output CGST A/c 225 To Output SGST A/c 225 | |
| 571. |
give 10 question very short out of book chapter rules of debit and credit |
| Answer» | |
| 572. |
Diffrentiaite between straight line method and diminishing method |
| Answer» Under SLM, depreciation is charged on Original Cost of the asset every year. Under WDV, depreciation is charged on the current year balance of the Asset (i.e., Original Cost - total depreciation till now). | |
| 573. |
what we are doing in financial statement with adjustment of unearned income |
| Answer» In the final accounts..unearned income will be recorded as liability in balance sheet. and will be substracted from concerned income in profit and loss credit side. | |
| 574. |
Patents par depreciation kyu lagta |
| Answer» Patent is also an asset that\'s why depreciation is charged | |
| 575. |
Project work. |
| Answer» Closing capital +drawing - additional capital - opening capital =profit<br>Sloved project work exercise P.52 | |
| 576. |
Formula to calculate profit |
| Answer» Profit=cost-revenue<br>Closing capital-opening capital+drawings- additional capital= profit/loss | |
| 577. |
State any two essential features of an accounting report |
| Answer» | |
| 578. |
What is opening stock |
| Answer» Opening stock is the value of goods available for sale in the beginning of an accounting period.<br>stock at 1st April | |
| 579. |
Freight paid on purchase of a fixed asset was debited to freight account identiy the type of error |
| Answer» Principle Error ! | |
| 580. |
Depreciation Account is real account?Say, True or False |
| Answer» False<br>False.Depreciation a/c is a nominal a/c. It is closed at the end of year by transferring to P & L a/c | |
| 581. |
Preparation of account from incomplete records |
| Answer» Its a single entry system.... | |
| 582. |
Formula to find operating profit |
| Answer» Thanks bro ??<br>Operating Profit =\xa0Revenue\xa0– (Labour+cost of goods sold+expenses incurred in the normal course of business) | |
| 583. |
When wages and salaries are given together with one figure. |
| Answer» If situation is wages and salary then it comes in dr. Side of trading a/c and if situation is salary and wages then it comes in dr. Side of p&l a/c | |
| 584. |
Artificial personal accounts |
| Answer» | |
| 585. |
Is account\'s good for health |
| Answer» How ????? Technial bhai ..?<br>Yes? | |
| 586. |
How ch came in 2019 paper |
| Answer» | |
| 587. |
How will you show interest on drawing in accounting equation? |
| Answer» Add in capital and minus in capital<br>add in capital ND cash may be it will true I only guess ?<br>Please koi | |
| 588. |
Why are rules of debit and credit same for liability and capital |
| Answer» Because capital is also liability of the business to its owner. The difference is other liabilities are payable to third parties but capital is payable to the owner. | |
| 589. |
30 transactions with their journal, ledger, trial balance, financial statement |
| Answer» Can you pl send the whole project of 30 transaction with their journal ledger trial balance financial statement | |
| 590. |
GST where entered |
| Answer» | |
| 591. |
Journal entry of bank loan repaid |
| Answer» Bank loan a/c. Dr To bank a/c\xa0<br>Loan A/C. .............. Dr. Interest on Loan A/C........ Dr. To Bank A/C | |
| 592. |
How to prepare class 11 accountancy project |
| Answer» Project files | |
| 593. |
Who is the father of accountancy |
| Answer» Father of Accountancy (in India): Shri Kalyan Subrahamani Aiyyar ..............................;Father of Accountancy: Luca Pacioli .............................<br>But in India :- ICAI (Institute of Chartered Accountants of India)<br>Luca Pacioli | |
| 594. |
ACcouNTS chapter rectification error |
| Answer» questions plz | |
| 595. |
Prepaid means |
| Answer» Paid in Advance<br>That means the payment has been paid in advance........<br>Cash paid for coming expenses of next accounting year. | |
| 596. |
Anyone knows....how to make provision account in depriciation ???Plz tell it step by step... |
| Answer» | |
| 597. |
What is the concept of drawer and drawee |
| Answer» \tDrawer: Drawer is the person who makes the bill of exchange and is the person who has given credit to the person on whom the bill of exchange is drawn.\tDrawee: Drawee is the person on whom the bill of exchange is drawn for acceptance. He is the purchaser of the goods/services to whom the credit has been granted by the drawer. | |
| 598. |
What is better to do???out if tally,. ERP,. SapPlz guide me teachers |
| Answer» | |
| 599. |
Ledgers accounts |
| Answer» Ledger Classification means after journalising the transaction in journal and subsidiary books... The transaction of similar nature are then posted in a separate book called Ledger (ledger accounts contains all the financial transactions related to a particular Account)<br>It is a second step in accounting process which means classification of a/c | |
| 600. |
What are quick assets????? |
| Answer» Which can be quickly converted into cash<br>The asset which can be changed into cash between a accounting year. It is also called current asset. | |