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.
| 401. |
Trending account 5 adventages |
| Answer» Affcous, its trading<br>Is it trending or trading ?? | |
| 402. |
Class 11 dk goel pg. No. 9.56 question no.11If solved please send it on my whats app no. 7479926462 |
| Answer» The answer is Option A, yeah i know i book its return Option B, but thats a misprintSo the final answer is Option A - INR3,600 | |
| 403. |
Good costing 20000 sold to Manoj at profit of 20% on cost less 10%trade discount pass journal entry |
| Answer» Manoj a/c dr. 21600 To sales a/c 21600 | |
| 404. |
How to calculate opening stock |
| Answer» Cost of goods sold =net sales - gross profit. Cost of goods sold =opening stock + purchases + direct expenses - closing stock. | |
| 405. |
In case of retirement ,when partially paid to partner then which case would be uae. |
| Answer» | |
| 406. |
What is fictitous assets |
| Answer» Fictitious assets are, losses not written off in the year in which they are recorded but in more then one accounting year . Example : advertisement expenses<br>These are those assets which do not have any value means jinki koi value nahi hoti for example P&L debit balance | |
| 407. |
On 1 january 2004 a machinery was purchased |
| Answer» Machinery A/c. Dr. To cash/ bank A/c | |
| 408. |
On which column capital goes in trading and profit and loss account?? |
| Answer» Closing capital<br>Capital is a liability so it will come in balance sheet ki liability side m<br>Which capital opening or closing | |
| 409. |
What do you mean by sinking fund??? |
| Answer» Sinking fund shareholders ki traf s lagaya jata h company m.. R iske liye ek trusty bhi hire kiya jata h jo shareholders k money ko invest krta h... | |
| 410. |
What is a continent liability ? How it is shown in final accounts. |
| Answer» We\'ll show this as a footnote in the Balance sheet<br>Liability which may be not a liability in present but maybe occurred in future. Pending case in Court | |
| 411. |
What is meant by statement of affairs? |
| Answer» Statement of affairs is a statemment assets and liability of a business as on a particular date | |
| 412. |
How to make provision a/c in dep. Of single year when previous year balance are given |
| Answer» Expenditure | |
| 413. |
Where will the bank balance come under profit and loss account or balance sheey |
| Answer» Asset side in balance sheet<br>Assets side or credit side | |
| 414. |
What is a voucher |
| Answer» Voucher is an evident of business transaction example of vouchers are cash memo invoice or well recipe debit or credit notes,etc. It is important to have all the business firm | |
| 415. |
Received commission of rupees 10000 + cgst sgst 6% each by cheque half of the amount is in advance |
| Answer» CASH A/C DR. 10000IN CGST DR. 600IN SGST DR. 600 TO COMM. 5600 TO COM. IN ADV. 5600 | |
| 416. |
Distinguish betweem manual accounting and computerised accounting? |
| Answer» Manual accounting process is a written document while the computerised accounting process is yeah computerised document it is easy to handle and manage. But one of the disadvantage it leads to data corruption and unadequate control and untrained operators are not able to work on it. Untrained operator or cheap and trained operator or very costly so both the manual and computerised process are useful | |
| 417. |
meaning and definition of depreciation |
| Answer» Depreciation is the allocation of the price of any fixed asset to upcoming years in order to follow matching concept.<br>Depriciation is an fall in value of asset due to time etc | |
| 418. |
Plz tell me the most important chapters of accounts from which more marks are come?? |
| Answer» Depreciation and final accounts are for 8 marks and in theory computers in accounting and rectification of accounting is compulsory 6 marks double and single entry system theory is for 4 mark it is compulsory<br>Practical portion of accounts helps in achieving good marks<br>Financial statements part 1 and part 2 And Theory of Chapter 1 & 2 | |
| 419. |
Solution of ledger |
| Answer» | |
| 420. |
Who is the founder accounts???? |
| Answer» Lucus Pacioli | |
| 421. |
any two basic requirements required for the use of computers in any database oriented application |
| Answer» | |
| 422. |
Who is debtor |
| Answer» A debtor is a person or entity which buys goods or services from the business on credit and owes the business for the same. It is an asset to the business.<br>Debtor is person , who buy goods from us on credit & it is asset of business!!<br>Debtor is a person from whom we sell our goods in credit and the amount is recoverable from that person it is an asset for the business<br>A debtor is a person to whom the goods have been sold but the amount is due from them | |
| 423. |
Depreciation treatment acc to accounting equation? |
| Answer» Subtract from asset and capital | |
| 424. |
Good costing ₹60000 sold for ₹80000 on credit . What is the accounting equation of this transaction? |
| Answer» Stock (-)60,000 . Debtors +80,000 . Capital +20,000<br>Cash+80,000. Stock-60,000 capital+20,000 .?? | |
| 425. |
Accounting Equation Opened a Bank Account by depositing Rupees 25000 out of cash |
| Answer» Cash -25000, bank +25000 | |
| 426. |
What is mean of accounting |
| Answer» Accounting is a systemmatic process of identifying, classifying,summarising,measuring ,recording and communicating | |
| 427. |
What is the definition of an account ? |
| Answer» Process of identifying classifying summarising measuring recording communicating | |
| 428. |
Journal entry on freight receivable |
| Answer» Accrued frieght A/c dr. To frieght A/c<br>Cash. .....dr. xx To frieght. xx | |
| 429. |
Purchase goods for ₹20000 from x and supplied it to y for 26000 pass journal entries |
| Answer» Purchase A/c Dr. 20,000 To X 20,000Y Dr. 26,000 To Sales A/c 26,000 | |
| 430. |
How does laser printer work |
| Answer» | |
| 431. |
What do you mean by one sided errors |
| Answer» Only one side of the account ,that is credit or debit side is affected by errors. It is called one sided error | |
| 432. |
What do you mean by ifrs explain any three objective of ifrs |
| Answer» International financial reporting system | |
| 433. |
What do you mean by ifrs full stop explain any three objective of ifrs? |
| Answer» | |
| 434. |
Calculate the due date of bill of exchange written on 13 July 2017 for 30 days? |
| Answer» 14 August 2k17<br>14 august 201u | |
| 435. |
What is imprest system of petty cash book? |
| Answer» The cash book that records payments of small expenses of small denomination such as postage, stationery, conveyance, etc. This cash book is maintained by a cashier called Petty Cashier and is known as Petty Cash Book.Under Imprest System, a fixed sum of money is given to the petty cashier at the beginning of period and at the end the amount actually spent is reimbursed so as he/she has the same fixed amount of money in the beginning of next period. | |
| 436. |
Gift to different use available to a holder of dealing with bill receivable? |
| Answer» | |
| 437. |
What do you mean by error of principle nd compensating error |
| Answer» Principle Error- It means the voilations of Accounting principle as we treat the transaction to wrong Accounts.ex(Treating the purchase of fixed asset as posted in revenue expenditure).Compensating Error- When one error is nullified by other error.ex ( Cash paid to ram ) So we have to post the ram in Dr. side and cash in Cr. side but wrongly we post ram in Cr. Side and cash in Dr. side...<br>Errors of principle are where the basic concepts are wrong..Paid wages for installation of the machinery 500Wages A/c.......dr. 500 To Cash A/c 500.This is a common example of error of principleCompensating errors are where the trial balance agrees in spite of one sided errors that have the opposite nature (Dr. And Cr.) but same amount..Wrong debit rs 300 and wrong credit rs 300 is an example of compensating error | |
| 438. |
What do you mean by contra entry |
| Answer» Its is used when we deposited or withdraw cash from the bank . Its is used only in cash book double coloumn | |
| 439. |
What is dr. Stands for? |
| Answer» Debit (dr) credit (cr) | |
| 440. |
Meaning of prudence of conservatism |
| Answer» | |
| 441. |
Principle of accounting in hindi |
| Answer» | |
| 442. |
Rectify the following error : credit sales to mohan rs.7000 were not recorded. |
| Answer» Mohan A/c Dr. 7000 To Sales A/c 7000<br>Sales ac. Dr. 7000 To mohan. 7000 | |
| 443. |
What if owner leaves the business? |
| Answer» If that business is not a joint stock company than it will be closed | |
| 444. |
which account is not used in trial balance |
| Answer» Closing stock is not used in trial balance when sometime closing is enter in trial balance it is treated in balance sheet only<br>Closing stock if not adjusted | |
| 445. |
Purchase typewriter for6000 on credit ,in office use pass journal entry |
| Answer» Office equipment A/c dr ₹6,000 To creditor A/c ₹6,000 ? ?<br>Typewriter to creditor | |
| 446. |
Is GST included or not in SA-2 examination? |
| Answer» Yes it is included in SA-2 examination<br>Included | |
| 447. |
How many chapters come in final exam |
| Answer» All chapters<br>11<br>All | |
| 448. |
Is trial balance statement or an account |
| Answer» Trial balance is a statement because it is not prepared for a period of time and is just prepared just on the date of closing of the accounts. Hence, it is just a statement showing the balances of the assets and liabilities and incomes of the business on the date of closing of accounts. | |
| 449. |
Bank balance as per pass book |
| Answer» | |
| 450. |
"Accounting software is an integral part of the computerized accounting system"explain. |
| Answer» it minimises the efforts of the accountant and less time consuming, easy to maintain, easy to study by any one, etc. Accounting software are very use ful for computerized accounting. It is a back bone of it. Nowadays accounting software are used every where for maintaining accounts of the company, shop, firm, etc. | |