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.
| 351. |
What are tge important topic in chacter 3 |
| Answer» Accounting assumptions and accounting principles | |
| 352. |
Why a transaction first record in Journal and ladger? |
| Answer» Becaise they are the process of accounting and are called original book of entry and also by the journal and ledger we can make the next books<br>Because they\'re original entry of books and all transactions are recorded on their bais | |
| 353. |
What is amendant cash book |
| Answer» It is that cash book which is prepared for making adjustments before the reconciliation of books at the end of year, so that corrected balance (including cash balance) will be shown in the Balance Sheet | |
| 354. |
How are we use suspense accounts |
| Answer» A suspense account is a general ledger account in which amounts are temporarily recorded. The suspense account is used because the appropriate general ledger account could not be determined at the time that the transaction was recorded.<br>We use suspense a/c when the debit and credit balance donot match. In this we just post entry of suspense A/c on the side which has a lower balance .for eg if the condition is goods sold to ram for rs. 2000 but mohan\'s a/c was debited by rs.3000 then its rectified entry will be RAM DR. 2000SUSPENSE A/C DR. 1000TO MOHAN. 3000(Being the sale toRam for 2000 posted in Mohan\'s a/c For 3000 now rectified)<br>When single side error | |
| 355. |
What do you mean by the term accounting |
| Answer» It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm\'s assets, liabilities and owners\' equity. Accounting provides information on the.<br>"Accounting is the art of recording , classifying and summarising in a significant manner and in terms of money ; transactions and event which are , in part at least , of a financial character, and interpreting the results thereof." | |
| 356. |
Name any tree accounting softwares |
| Answer» Three accounting softwares are1. Sage 50cloud,2. NetSuite,3. Gusto.<br>Accounting softwares are tally and Excel<br>Ready made software. And constenet software and tailor sofware<br>i know only one accounting software - tally | |
| 357. |
Syllabus of acciunts |
| Answer» 22 chapters except 24, 25 , 26 and 27 | |
| 358. |
Solution of sample paper 3 |
| Answer» | |
| 359. |
I don\'t know what mein of initial cost method |
| Answer» It is considerably easier to account for investments under the cost method than the equity method, given that the cost method only requires initial recordation and a periodic examination for impairment. | |
| 360. |
Sample paper 1st...3 account wale me problem hai |
| Answer» Question??<br>1<br>What is the question | |
| 361. |
Dk goel chapter trial balance page no.14.31 question no 8 |
| Answer» Its actully a bery easy chapter n im done with tht question thnkyou so much......<br>ND trial balance is very easy chapter for me ??<br>U give me questions because my accounts exam is done ND I give the book to my frnd so u give me questions then I answered u | |
| 362. |
Journal entry for interest on drawing |
| Answer» Drawings A/c Dr. To interest on drawing A/c Cr.<br>Drawings a/c Dr To interest on drawings a/c?? | |
| 363. |
Principles of accountancy |
| Answer» Accrual principle ,Conservative principle ,Consistency principle ,Cost principle ,Materiality principle.<br>Principles of Accounting was often the title of the introductory course in accounting. It was also common for the textbook used in the course to be entitled Principles of Accounting. | |
| 364. |
What is the format of sales return and purchase return? |
| Answer» Sales return will be debited ND purchase return will be credited | |
| 365. |
How to rectify |
| Answer» First write correct entry than write wrong entry than compare and you will get rectify entry | |
| 366. |
What do you mean journal |
| Answer» In accounting and bookkeeping, a journal is a record of financial transactions in order by date. Traditionally, a journal has been defined as the book of original entry.<br>journal is a primary book of account in which transactions are first recorded in a chronological order.<br>It is the book of original entry in which business transactions are recorded<br>It is an entry in which every transaction is recorded related to business | |
| 367. |
What is accuontion standerd |
| Answer» Financial statements prepared and presented by a company typically follow an external standard that specifically guides their preparation. | |
| 368. |
Give a transection which increase assets or liabilities |
| Answer» Purchases an machinery on credit<br>goods purchase on credit | |
| 369. |
Tr jain ne itne tough book kyo banai |
| Answer» | |
| 370. |
commers side which subject |
| Answer» | |
| 371. |
What is the meaning of Write off depreciation |
| Answer» Write off depriciation means to charge depriciation | |
| 372. |
What is accounting cycle ???? |
| Answer» Start with recording in journal and then or preparing final accounts and in interpreting or communicating that results to the users<br>Keep paddle with cycle of accountsYou know what is accounts<br>Start with recording in journal and end in preperation of final accounts | |
| 373. |
In T.S Grewal\'s illustration 21 in balance sheet why GSTanswer in SGST FORMINPUT SGST 320 |
| Answer» read note 3 | |
| 374. |
Apprentice premium Rs. 300 related to next year. (treatment in final A/c) |
| Answer» Show on assets side in balance sheet ?<br>Agar trial balance mein ho to P&L ki credit side aayga | |
| 375. |
Form the following trial balance of MR vinod |
| Answer» | |
| 376. |
Not profit organisation is come in paper |
| Answer» | |
| 377. |
how to calculate manager Commission after charging profit or before charging profit |
| Answer» Firstly calculate rough net profit Then, Formula for after charging profit = Rough net profit ×rate of commission / 100 + rate of commission Formula for before charging profit =Rough net profit × rate of commission / 100 | |
| 378. |
Formation of labour union is not recorded in the books of accounts why? |
| Answer» | |
| 379. |
Why accounting is important?? |
| Answer» It is not possible for each person remember the daily sales etc so accounting help.....<br>But how<br>Because in our daily life accounting is help us | |
| 380. |
what is mean by non-cash vochers? |
| Answer» Non - cash vouchers are the documentary evidence of non-cash transactions. Examples ofnon-cash vouchers are: Goods sold on Credit; etc. | |
| 381. |
Why there is need to make statement of affairs |
| Answer» In single entry system , preparation of statement of affairs is necessary to ascertain closing capital and opening capital | |
| 382. |
Name two accounting softwares |
| Answer» Three accounting softwares are 1. Tally 2. Busy 3. Ex<br>Or Customised software<br>1 ready-made software 2 tailor - made software | |
| 383. |
BrsBank balance as per pass book |
| Answer» Passbook shows credit balance and cashbook shows debit balance that is favourable balance which comes in plus items<br>Plus hoga agar overdraft hota to minus mein hota<br>Plus item<br>Minus | |
| 384. |
Where do bad debts go in double column cash book |
| Answer» entry of bed debts = ( Bad debts A/c dr To Debtors A/c ) as cash is not involved therefore it will not be recorded in cash book.<br>Credit side<br>In credit side | |
| 385. |
Transection that dont came in cash book |
| Answer» Which are not related to cash | |
| 386. |
What is computer system? |
| Answer» A computer is a device that can be instructed to carry out sequences of arithmetic or logical operations automatically via computer programming. Modern computers have the ability to follow generalized sets of operations, called programs. These programs enable computers to perform an extremely wide range of tasks. | |
| 387. |
what do you meant by accounting |
| Answer» Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. | |
| 388. |
what is error of commission |
| Answer» Error of commission is the mistake that consists of doing something wrong such as including or wrong about or including an amount in the wrong place | |
| 389. |
What is as |
| Answer» It\'s chronic, which means it lasts a long time. But treatments can help lessen .. | |
| 390. |
What is the meaning of accounting standards |
| Answer» Accounting standerds are those standers or norms in which accounts are maintained | |
| 391. |
what is invest received |
| Answer» Investment income is that which comes from interest payments, dividends, capital gains collected upon the sale of a security or other assets, and any other profit made through an investment vehicle of any kind. | |
| 392. |
Sales books was over casted by Rs 7000 |
| Answer» Sales book Dr. 7000 To Suspense A/c Cr. 7000 | |
| 393. |
Laset sampal papar |
| Answer» | |
| 394. |
credit sale of old furniture to Mohan for 1500 was posted as 5100 |
| Answer» Suspense a/c. Dr. 3600To mohan 3600<br>I don\'t know | |
| 395. |
Preety was paid ₹2800 but jyoti was debited by ₹2000 give answere with reason |
| Answer» Jyoti A/c... Dr 2000Suspense A/c... Dr 800 To preety A/c 2800 Because Jyoti wrongly credited now it is divided with 2000 and Preety was wrongly debited now she credited with 2800 and the remain balance of 800 in debit side is open in suspense account | |
| 396. |
Pass necessary jornal entries1-pen purchase2-lamp puchase |
| Answer» | |
| 397. |
What is formula for finding trade discount |
| Answer» Sales amount × % of discount | |
| 398. |
What is BoE & how to made it |
| Answer» Bills of ExchangeJournal enties only to be studied according to prescribed syllabus for class 11 | |
| 399. |
External user |
| Answer» Consumers<br>Government and competitor firm | |
| 400. |
How to solve case study |
| Answer» By doing depth study of the topic | |