InterviewSolution
Saved Bookmarks
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.
| 301. |
Being goods sold to Nikhil for rs 40000 and VAT charged 10 % ..give..journal entry |
| Answer» now, in our syllabus vat doesn\'t exists.. | |
| 302. |
Anyone here who tell exam routine of jac of jharkhand plz it\'s very important for me |
| Answer» For give me answer<br>Thanx<br>i dont no | |
| 303. |
Component of computer system |
| Answer» the correct answer is input devices ,output devices , cpu, memoru<br>The elements of computer are:Hardware softwareHumanware | |
| 304. |
Define e commerce ? |
| Answer» Commerce refer to all those activity which have directly indirectly in distribution of goods | |
| 305. |
Pass journal entry purchase goods worth Rs 150000 on credit from HP Private Limited |
| Answer» Purchases a/c Dr To Cash a/c<br>Purchase a/c. Dr To hp private limited A/c | |
| 306. |
Pass journal entry for annual installment for loan from Bank rupees 250000 |
| Answer» | |
| 307. |
Pass journal entries sold goods costing rupees 100000 to Ram less 10% trade discount |
| Answer» Ram a/c dr 90000To sales 90000 | |
| 308. |
Fast journal entry paid annual installment for loan from Bank rupees 250000 |
| Answer» Loan payable a/c debit 25000 To Bank a/c credit. 25000 I think | |
| 309. |
Pass journal entry withdrawn from bank for personal use rupees 20000 |
| Answer» Drawings a/c ..dr 20000. To bank a/c 20000 | |
| 310. |
Pass journal entries received 75000 by cheque from debtors |
| Answer» Bank a/c debit To debtors A/c<br>BANK A/C. DR TO DEBTOR A/C<br>Cheque a/c dr To debtor | |
| 311. |
Pass journal entry charges paid for advertisement |
| Answer» Advertisement a/c ...Dr To cash a/c | |
| 312. |
Pass journal entry paid Bank charges of rupees 2,000 |
| Answer» Bank charges a/c ..Dr 2000 To bank a/c 2000 | |
| 313. |
Pass journal entry purchase furniture from him traders Nagpur for cash |
| Answer» Furniture a/c ..dr. To cash a/c | |
| 314. |
Pass journal entries sold goods worth rupees 50000 at a cash discount @ 5% |
| Answer» Cash a/c dr. 47500Discount allowed a/c dr 2500 To sales a/c 50000 | |
| 315. |
Pass journal entries sold goods of rupees 200000 for credit in the entire year |
| Answer» Debtors a/c 200000 To sales a/c. 200000 | |
| 316. |
Pass journal entries sold goods of Rs 6 lakh for cash in the entire year |
| Answer» Cash a/c dr. 600000 To sales a/c 600000 | |
| 317. |
Pass journal entry paid salary of amount rupees 10 lakh in total to the Employees for the whole year |
| Answer» Salary a/c dr 1000000 To cash a/c 1000000 | |
| 318. |
Pass journal entry paid 10000 for computers or stock insurance to Insurance Company |
| Answer» Insurance a/c. ...dr 10000. To cash a/c. 10000 | |
| 319. |
Pass journal entries got loan from bank of rupees 750000 |
| Answer» Cash a/c ...dr 750000 To bank loan a/c. 750000 | |
| 320. |
what is special purpose books? |
| Answer» Cash book , purchase book ,purchase return book ,sales book ,sales return book | |
| 321. |
Two external users of accounting? |
| Answer» Suppliers , investor ,banks | |
| 322. |
When the person taking the loan from bank what is the journal entry |
| Answer» Bank Dr To bank loan<br>Cash a/c dr To bank loan<br>Cash A/C dr. xxx To loan from bank xxx | |
| 323. |
What is the difference between Revenue reserve and Capital reserve? |
| Answer» <th>BASIS FOR COMPARISON</th> <th>REVENUE RESERVE</th> <th>CAPITAL RESERVE</th> \t\t\tMeaningRevenue Reserve refers to the sum of money retained in business, so as to meet out future contingencies.Capital Reserve alludes to a fund, that is created to finance long term project or write off capital expenses.SourceRevenue profit of the firm are the source of revenue reserves.Capital profit of the firm are the source of capital reserve.AimTo meet unforeseen contingencies and improve entity\'s financial position.To adhere to the statutory requirements or accounting principles.UtilizationBased on the type of reserve it can be utilized for any or particular purpose only.Capital reserve can be utilized for the purpose for which it is created.DividendIt is freely available for distribution as dividend.It is not available for distribution as dividend.\t | |
| 324. |
Define liability |
| Answer» Liabilities are the claim against those resources which a business owes to outsiders (creditors) . | |
| 325. |
What is GST and its features? |
| Answer» | |
| 326. |
Concept of rectification of errors |
| Answer» Rectification Of Accounting ErrorsOnce an error is located, it should be properly corrected. The correction of accounting errors in a systematic manner is called the rectification of errors. In other words, the process of systematically correcting the accounting errors is known as rectification of errors. The presence of accounting errors affects accuracy of the profit and loss and the financial position of the business shown by the final accounts, therefore, no error should be left uncorrected. | |
| 327. |
Diffrence between statement of affairs and balance sheet?? |
| Answer» Small traders and partnership firms, do not maintain their books of accounts as per double entry system. They used to keep a track of cash and credit transactions only. However, at the end of the financial year, these firms also want to know the position of business. For this purpose, statement of affairs is prepared at the beginning and at the ends of the period, so as to determine the overall change in the capital, during the financial year. | |
| 328. |
marking scheme of chapters |
| Answer» Yes different school have different marking scheme<br>6 marks of brs<br>It differ from school to school<br>Financial statement with and without adjustment is of 12-15marks | |
| 329. |
Who is endorsee ? |
| Answer» Ya the person to whom bill is endorsed<br>Endorsee is the third person to whom bill is given . | |
| 330. |
Cogs |
| Answer» Cost of goods sold | |
| 331. |
What is bill pay bill and build Cena |
| Answer» | |
| 332. |
What is financial statements? What information do they provide . |
| Answer» | |
| 333. |
what is entry of outstanding expense? |
| Answer» Expenses a/c dr To outstanding expenses a/c<br>Expense a/c dr. to outstanding expense a/c.. | |
| 334. |
what is business identity |
| Answer» Business identity ya entity | |
| 335. |
Where will commission on purchase will go if it is written inside the trial balance |
| Answer» Dr side of trading account<br>Dr side of trading A/c<br>Trading a/c mein aayga | |
| 336. |
Explain four limitations of accounting |
| Answer» It is mentioned in the book you can check the accounts book don\'t ask such questions just read out once your book<br>Accounting may lead to window dressing<br>(1) Accounting is not fully exact (2) Unrealistic Information (3) Accounting ignores the qualitative elements (4) Accounting ignores the effect of price level changes. | |
| 337. |
New blue print 2019 accountancy |
| Answer» | |
| 338. |
Blue print 2018-19 |
| Answer» Search on Google<br>Plz it\'s really important<br>Can you send question paper<br>My accountancy exam is over | |
| 339. |
Intrest due but not received 2000 journal entry |
| Answer» Sry previouly I mistake accrued interest a/c Dr 2000 To interest a/c 2000<br>Accrued interest a/c Dr 2000 To interest a/c? | |
| 340. |
Debtor\'s calculation in financial statements |
| Answer» Debtors comes in balance sheet Or adjustment mein agar bad debt ho to vo debtors mein se minus hoge or agar prov on debtors ya prov on reserve ho vo bhi debtors mein se minus hoga | |
| 341. |
When assets is increaseing liability decrease (accounting equation) |
| Answer» When bill dishounred and half amount of bill pay in cash<br>If we purchase goods on credit our creditors will also increase so the above answer is wrong<br>When good prchse on credit | |
| 342. |
State any one difference between the two methods of depreciatdepreciation |
| Answer» In oringnal value method the value of asset comes zero but in written down value method the value asset will never came zero 2. In SlV method deprication is charged on oringnal cost every year but in WDV method deprication is not charged on oringal cost every year<br>Writen down is not fix deprecation in every yearBut straght line have fixed deprecatatin every year | |
| 343. |
What is Tally |
| Answer» Telly is an accounting software.<br>Tally is a software of advancedfinancial accounting | |
| 344. |
Diffrence between source of document and voucher |
| Answer» | |
| 345. |
Which transactions are recorded in journal proper ? |
| Answer» | |
| 346. |
Feauture of ledger account |
| Answer» Features of the Ledger Account:(i) The ledger account is divided into two sides – the left hand side is known as debit side while the right hand side is known as credit side. The abbreviations ‘Dr.’ and ‘Cr.’ are placed at the top left and right hand corners respectively as a custom. (ii) The name of account is written in the top middle of the account.(iii) J.F. denotes folio or page number on which its journal entry has been passed. | |
| 347. |
Which type of theory questions asked |
| Answer» | |
| 348. |
Compound journel entry??? |
| Answer» a compound journal entries includes one or more debits and/or credits than a simple journal entry.<br>It is that entry in which many debit or many credit ,e.g. opening entry | |
| 349. |
Chapter19 question number 12 solution |
| Answer» With adjustments | |
| 350. |
Chapter19 |
| Answer» Rectification of errors<br>Which book | |