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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.
251. |
Types of accounting |
Answer» 3 typesFinancial accountingCost accountingManagement accounting | |
252. |
1marks question for competitive exam |
Answer» | |
253. |
Difference between assets and goods on the basis of any 5 points ? |
Answer» (i) Goods are purchased for resale whereas assets are held for continued use in the business.(ii) Goods are alwasys tangible i.e., they can be seen and touched whereas assets may be both tangible and intangible. | |
254. |
I want to study D.K. Goel of Accountancy subject |
Answer» Then Study | |
255. |
horizontal format of balancesheet??? |
Answer» Hyyy | |
256. |
Accural basis |
Answer» | |
257. |
Anybody free for chatting |
Answer» I m free yr....exams khatam....<br>Hlow yrr<br>Hiiii | |
258. |
3 chapter solution |
Answer» | |
259. |
goods costing rupees 1500 sold to rajat taking 25 percent profit on sales |
Answer» 60 | |
260. |
What do you mean by accounting?? |
Answer» Thanks a lot for answering ??<br>Thanks a lot ?<br>Accounting is a art of recording, classifying, summarizing, analyzing and interpreting the financial information to the user<br>Accounting is system of recording, classifying, summarizing, and maintaining business transaction<br>Please somebody answer!! | |
261. |
Please send class 12th acountancy paper |
Answer» | |
262. |
Paid shyam lal cash on account. Amount 2000 journal entry |
Answer» | |
263. |
Social responsibility accounting |
Answer» | |
264. |
What is the meaning of fictitious assets |
Answer» These assets are not tangible or not intangible , these are losses which can\'t be written of within a one accounting period.<br>Ans. Fictitious Assets means any type of Assets either it is Tangible of Intangible in Nature known a s Fictitious Assets.for example : Advertisement Suspense | |
265. |
Why do users want accounting information |
Answer» Because it enables businessmen to determine credit,worthiness of their business | |
266. |
Traiyal balance |
Answer» Deprication | |
267. |
Purchased car for personal use should be recorded in? |
Answer» Hlow aastha<br>Assests | |
268. |
short note on copyright |
Answer» | |
269. |
Where is the chapter- Accounting Equation |
Answer» | |
270. |
What is the answer of my question |
Answer» But what\'s your question<br>But what\'s your question. | |
271. |
Credit sale of old furniture to mohan for 1500 was posted as 5100 ,rectify the following errors |
Answer» | |
272. |
If total assets of a business are 130000 and capital is 80000 calculate creditors. |
Answer» | |
273. |
What are the base of account inf |
Answer» | |
274. |
Prooject model 2019-20 |
Answer» | |
275. |
Entity |
Answer» | |
276. |
Write a short note on Double Entry Syatem of Accounting |
Answer» | |
277. |
What is the meaning of debtors |
Answer» Debtor is the one who owes me/us<br>Those who have to pay to us | |
278. |
What do you mean by mutual debts |
Answer» | |
279. |
What is businessisty concept?? |
Answer» This says that business & businessman are the two sepesepa legal entity.\xa0 | |
280. |
What is Error of Omission and Error of Principle |
Answer» Error of Omission: If a transaction remains altogether unrecorded in the Journal, i.e. the book of original entry, it will be termed as an error of omission. It is termed as a two-sided error and such an error will not affect the agreement of the Trial Balance because the transaction is altogether omitted from being recorded in the books of accounts.Error of Principle: When a fundamental principle of accounting is violated, while recording a transaction, it is known as an error of principle.For example: - 1. Purchase of furniture is debited to the Purchases A/c instead of Furniture A/c.2. Repairs of old machinery are debited to the Machinery A/c instead of Repairs A/c. | |
281. |
What is accured income |
Answer» | |
282. |
In balance sheet stock of goods in which side it will ne shown |
Answer» Assets | |
283. |
What is promissory note |
Answer» <font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif; color: rgb(51, 51, 51); font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">According to the Negotiable Instruments Act 1881,”a promissory note is defined as an instrument in writing (not being a bank note or a currency note), containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument”.</font></font>This definition mean that when a person gives a promise in writing to pay a certain sum of money unconditionally to a certain person or according to his order the document is called is a promissory note.\xa0<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif; color: rgb(51, 51, 51); font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">Following are the features of a promissory note:</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">It must be in writing</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">It must contain an unconditional promise to pay.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">The sum payable must be certain.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">It must be signed by the maker.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">The maker must sign it.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">It must be payable to a certain person.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">It should be properly stamped.</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif; color: rgb(51, 51, 51); font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">A promissory note does not require any acceptance because the maker of the promissory note himself promises to make the payment.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Ashok Kumar New Delhi</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Rs. 30,000 01 April, 2006</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Three months after date I promise to pay Sh. Harish Chander or order a sum of Rupees Thirty Thousand only for value received.</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Stamp</font></font></font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">To</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Harish Chander Ashok Kumar</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">24, Ansari Road 2, Dariba Kalan</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Darya Ganj Candani Chowk</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">New Delhi 110 002 Delhi 110 006</font></font>\t | |
284. |
Which account is not considered in trail balance |
Answer» | |
285. |
What is the difference between advance and prepaid? |
Answer» Advance is used for the incomes when these received early.\xa0Prepaid is used for expenses when they are paid before they arise. | |
286. |
Basu accepted a bill draws by nandu amounted to 4000 and payable after 4 month nandu discounted |
Answer» In the books of nandu...of discount will be Bank a/c dr Rebate charges a/c dr To bills receivable In the books of basu. Bills payable a/c dr To bank a/c | |
287. |
Is bank reconciliation statement, part of double entry system? |
Answer» BRS is not a part of double entry system, it is just a statement prepared to find out the reasons for disagreement between the bank statement balance and cash book balance of the bank. | |
288. |
Purchase day book undercast by Rs. 1000 |
Answer» Purchase A/C Dr To suspence A/C | |
289. |
Goods withdrawn by the proprietor for personal use Rs. 1400 not entered in book. |
Answer» Drawings a/c dr 1400 To purchases A/c 1400 | |
290. |
Journal entries of brought goods for cash will |
Answer» Purchases A/c Dr. To cash A/c | |
291. |
Important theory of accounts |
Answer» No notes for you. | |
292. |
Define software. Explain different types of softwares used in a computer system. |
Answer» Go through notes | |
293. |
Full form of BASIC |
Answer» Beginner\'s All-purpose Symbolic Instruction Code | |
294. |
Practical problems chapter depreciation question 21 |
Answer» | |
295. |
What is data. |
Answer» Ii is the raw material | |
296. |
House collection account was debited by house master by ankush account |
Answer» | |
297. |
Where are the revenue receipt shown while preparing financial accounting of a firm |
Answer» It is shown in profit and loss account on the credit side. It is shown in the Balance Sheet on the liability side. Capital receipt, when invested, produces revenue receipt e.g. when capital is invested by the owner, business gets revenue receipt (i.e. sale proceeds of goods etc.). | |
298. |
Goods purchased for cash Rs 66,000 . Cartage paid 1% |
Answer» purchase to cash by 66660 | |
299. |
Debit balance in a suspense account will be shown on which side of the balance sheet? |
Answer» suspense does not shown any side ut is already collected while calculating closing stock | |
300. |
Explain any three advantages of accounting |
Answer» Information about financial position.Ascertainment of profit or loss during a period.Accounting provides better controlAccounting helps in decision making.Accounting records are evidence of acts.Collection and payment of cash.Accounting helps in obtaining loans for business.It help for investors and government & other. | |