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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.
51. |
Mr x is appointed as manager and salary 50000 will it be expense for the company |
Answer» | |
52. |
How many type of account |
Answer» Three types of accounts Real, Personal,Nominal | |
53. |
What is accountancy ? |
Answer» Accountancy is a systematic knowledge of accounting and it just makes us know how to carry out of the accounting process<br>Accountancy involve book keeping & accounting process<br>Sdfgjkjfzat hlcso so soft idk jai NFL hah rock msj | |
54. |
Ifrs mean |
Answer» 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. | |
55. |
Ncert solutions of 11th class of journal |
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56. |
Solution of ts.grewal book |
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57. |
What is ledger explain with example |
Answer» The Ledger is the main or Principal book of accounts in which all thebusiness transactions would ultimately find thier place under various accounts in a duly classified form.After recording the business transaction in the Journal or special pur-pose Subsidiary Books, the next step is to transfer the entries to the respective ac-counts in the Ledger. Ledger is a book where all the transactions related to aparticular account are collected at one place. | |
58. |
What is full disclosure concept |
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59. |
What is the accounting principle? |
Answer» ✨?️??️?️????????????<br>Accouting principles are rules | |
60. |
Kamal paid cheque for ₹11000 in full settlement of his account which was banked after 2 days |
Answer» The question is given in sc sharma of abd publications it is 18 que<br>The question is wrong..............there will always be a receiver of the cheque.......so kamal issued cheque to someone namely (prachi jain).......So the journal will be Prachi jain a/c dr. 11000 To bank a/c 11000This is wat kamal writes in his book.But prachi jain writes as Cheques in hand a/c dr. 11000 To kamal a/c. 11000And when he banked his cheque after 2 days Bank a/c dr. 11000 To cheques in hand a/c. 11000 | |
61. |
Page no 11.65 question 21 |
Answer» Of which book ... plz give the name of the book t.s or d.k or ncert | |
62. |
Ch 8 ka question no. 5th |
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63. |
What is baddebt |
Answer» Not payable money<br>The money which can not be payble is called bad debt<br>That money Which are cannot bhi recovered<br>Or amount which is lossed by business in the form of debtors.<br>That debtors which are not able to pay our debts they are called bad debts. | |
64. |
Why is stationery an expense? What is prepaid stationery |
Answer» Stationary is a expense because stationary is considered in a consumable expense it is a expense of wvery month Prepaid stationary is a asset because you give money for the stationary of the next month so you not have to pay money in next month | |
65. |
March 1 started business with cash..............rupees 2,00,000 |
Answer» Cash a/c dr. To capital a/c(Being started business with cash)<br>Cash a/c Dr To capital a/c<br>Date. |Particular. |Lf| Dr. | Cr. 1 march.| Cash A/C ..dr |× | 200000| | To capital. | | | 200000<br>Cash ac. Dr. 2,00,000 To capital ac. 2,00,000 | |
66. |
GST ncert solutions |
Answer» | |
67. |
Deposited into the bank |
Answer» Cash a/c dr. To bank<br>Bank a/c ....dr To cash a/c ....cr<br>Bank a/c Dr To cash a/c<br>Cash a/c Dr To bank a/c | |
68. |
Journal entery of timber costing 5000 used for furnishing the office |
Answer» Furniture a/c dr. To cash a/c | |
69. |
Outflow ka matlab accounting me |
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70. |
State the end product of financial accounting |
Answer» The end product of financial accounting is the preparation of final accounts i.e., Trading account,\xa0profit and loss account, and balance sheet. With the help of these accounts, the proprietor or the owner of the business is can analyze the financial position of the business. While the Trading and Profit and Loss account exhibit the profitability of the business during a period of time, the Balance sheet displays the position of the assets and liabilities at a point of time.<br>The end product of financial accounting is balance sheet | |
71. |
Goods returned of list price of rupees 10,000 purchased from AmritJournalise |
Answer» Amrit\'s A/c ...Dr 10,000 To Purchase return A/c 10,000<br>Amrit a/c ...dr To purchases returns | |
72. |
Differentiate between source document and vouchers |
Answer» \tBasis of DifferenceSource DocumentsVouchersMeaningIt refers to the documents in writing, containing the details of events or transactions.When source document is considered as evidence of an event or transaction, then it is called voucher.PurposeIt is used for preparing accounting vouchers.It is used for analysing the transactions.RecordingIt acts as a basis for preparing accounting voucher that helps in recording.It acts as a basis for recording transactions.PreparationIt is prepared at the time when an event or a transaction occurs.It can be prepared either when an event or a transaction occurs, or later on.Legality/ValidityIt can be used as evidence in the court of law.It can be used for assessing the authentication of transactions.Prepared ByIt is prepared by the persons who are directly involved in the transactions, or who are authorised to prepare or approve these documents.It is prepared by the authorised persons or by the accountants.ExamplesCash memo, invoice, and pay-in-slip, etc.Cash memo, invoice, pay-in-slip (if used as evidence), debit note, credit note, cash vouchers, transfer vouchers, etc.\t | |
73. |
The use of financial statements for trade union |
Answer» Corporate financial statements are useful to labor unions and other employee representatives because they provide important information that may be used in salary or employment benefit discussions with top management. Labor representatives typically evaluate corporate profitability, expense levels and business trends by appraising data included in financial statements and subsidiary reports. | |
74. |
What is the meaning of consistency ? |
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75. |
What is going concern assumption b |
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76. |
It is a general entry questions |
Answer» Its \'Journal\' not general | |
77. |
Goods costing 75000 sold at profit of 33/1/3%.half of the payment received in cash |
Answer» Stock - 75000Cash + 50000Debtors +50000 Capital +25000 | |
78. |
How can do journal entries |
Answer» | |
79. |
Sold goods wroth rupees 50,000 form mahek for 5 percent trade discount and 1 percent cash discount |
Answer» 500 cash.<br>2500 trade dis.<br>Plz give me in detail<br>Price after Trade Discount- Rs. 47,500Now if payment is recieved then- Rs. 47,025 | |
80. |
Define liability ? |
Answer» It is the amount payable by the business for proprietor is called liabilities<br>The economic value of an obligation or debt that is payable by the enterprise to other establishment or individual is referred to liability. To put it in other words, liabilities are the obligations that are rising out of previous transactions, which is payable by the enterprise, through the assets possessed by the enterprise.<br>Liability =loan creditor etc | |
81. |
Brought goods for cash from m/s hema trader ..journalise this statement |
Answer» Purchase A/C. dr To cash A/C | |
82. |
What\'s the entry suresh paid into bank as capital |
Answer» Bank a/c dr. To cash a/c | |
83. |
What is the difference between assets and liability |
Answer» Assets is the property of th buisness which gives to the profit to the buisness. Liability are expenses which have to be paid to creditors,bank etc. | |
84. |
Purchase on credit goods for rs. 5000 from Mr. Khanata |
Answer» Purchase A/c_ Dr. To Mr. Khanata (Being purchase on credit goods for Rs.5000)<br>Purchase a/c _____dr. 5000 To mr. Khanta. 5000 | |
85. |
What is cash |
Answer» Paisa<br>Cash is a amount | |
86. |
What is the first step of accounting process? |
Answer» Transactions. 2. Record in subsidiary books. 3. Trial balance .....<br>Identification as well as recording of transactions<br>Idebtification of transaction<br>Transactions | |
87. |
Purchase furniture for cash paid by cheque |
Answer» Furniture a/c dr To bank | |
88. |
objectives of IASB |
Answer» to develop, in the public interest, a single set of high quality, understandable, enforceable and globally accepted financial reporting standards based upon clearly articulated principles. These standards should require high quality, transparent and comparable information in financial statements and other financial reporting to help investors, other participants in the world’s capital markets and other users of financial information make economic decisions; to promote the use and rigorous application of those standards; in fulfilling the objectives associated with (a) and (b), to take account of, as appropriate, the needs of a range of sizes and types of entities in diverse economic settings; and to promote and facilitate adoption of IFRSs, being the standards and interpretations issued by the IASB, through the convergence of national accounting standards and IFRSs. | |
89. |
What do you mean by book keeping discuss its main objects |
Answer» Book keeping refers to recording business transactions in terms of money in books of accounts | |
90. |
Suresh paid into bank as capital₹ 60000 |
Answer» Bank A/c. Dr. 60000 To Capital A/c. 60000<br>Bank A/C Should be debited. Entry will be-:Bank A/c Dr. 60,000 To Capital A/c 60,000<br>Cash A/c Dr. 60,000 To capital A/c 60,0000 | |
91. |
Recived cash for sale old newspaper for 10000 and old chair 5000 |
Answer» Cash A/c 15000 To Miscellaneous Income A/c 15000<br>Cash A/c Dr. 15000 To miscellaneous Income A/c 10,000 To Chair A/c 5,000 | |
92. |
Business started with 1)cash 2) goods journal entry |
Answer» Cash A/c. Dr.Stock A/c. Dr. To Capital A/c.<br>Cash A/C DR.Goods A/C DR. TO Capital A/C Capital is credited becase inc. In capital will be credited as per journal rule | |
93. |
Equation solve |
Answer» Accounting equation????? | |
94. |
Received interest on capital |
Answer» Capital A/c Dr. To Interest on capital A/c<br>IntRest on capital a/c. Dr To capital a/c<br>Capital A/c. Dr To interest on capital A/c. | |
95. |
Enter the following transactions in the journal of manohar lal &sons |
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96. |
Paid insurance Rs12,000 p.a. ( from 1st oct to 30 sept every year ) |
Answer» Insu a/c Dr. To cash /bank A/c | |
97. |
What is an account |
Answer» Accounts is not an subjectAccountancy is a subject .Accounts is an part of accountancy.<br>Accounts is a subject | |
98. |
Attributes(Characteristics) of accounting |
Answer» Accounting is the art of recording, classifying and summarising in terms of money transactions and events of a financial character and interpreting the results thereof. The attributes of accounting are as follows:-\tRelevance:- Relevance is closely and directly related to the concept of useful information. Relevance implies that all those items of information should be reported that may aid the users in making decisions and/or predictions. In general, information that is given greater weight in decision-making is more relevant.\tReliability:- Reliability is described as one, of the two primary qualities (relevance and reliability) that make accounting information useful for decision-making. Reliable information is required to form judgements about the earning potential and financial position of a business firm. Reliability differs from item to item. Some items of information presented in an annual report may be more reliable than others. For example, information regarding plant and machinery may be less reliable than certain information about current assets because of differences in uncertainty of realisation. Reliability is that quality which permits users of data to depend upon it with confidence as representative of what it purports to represent.\tUnderstandability:- Understandability is the quality of information that enables users to perceive its significance. The benefits of information may be increased by making it more understandable and hence useful to a wider circle of users. Presenting information which can be understood only by sophisticated users and not by others, creates a bias which is inconsistent with the standard of adequate disclosure. Presentation of information should not only facilitate understanding but also avoid wrong interpretation of financial statements. Thus, understandable financial accounting information presents data that can be understood by users of the information and is expressed in a, form and with terminology adopted to the user’s range of understanding. | |
99. |
What is J.E |
Answer» Journal entry | |
100. |
Record the following transection .April 1 ram started the business with cash rupees 50,000 |
Answer» Cash A/C- Dr. To capital A/C(Being business started with cash)<br>Cash A/c Dr. 50,000 To capital A/c. 50,000<br>To capital account | |