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.
| 4551. |
Plzz tell me tha syllabus |
| Answer» | |
| 4552. |
Is accounts art or science? |
| Answer» Accounting is an art as well as science.<br>Both<br>Account is an art<br>according is both arts as well as science. | |
| 4553. |
Please tell me what is credit and debit? |
| Answer» Credit is the right side of the account and Debit is the left side of the account.....<br>Credit means to withdraw mony<br>Chapter 5 all solve question | |
| 4554. |
How will you deal with the following items in accounting equation |
| Answer» | |
| 4555. |
Explain different kinds of Theory base of accounting |
| Answer» Business entity concept: According to this “the business is treated as a separate and distinct entity from the owner, who invests money or money’s worth”. If there is any branch or unit, is also treated as a distinct entity. (2) Going concern concept: According to this the assumption is made that “Every business is carried on with a view to contiune it for an indefinite period of time in future and not to liquidate the affairs. (3) Money measurement concept: According to this “the accounting entries made in the books are only of those transactions which can be measured and recorded in terms of money”. (4) Cost concept: According to this “All the fixed assets which are acquired by a concern are recorded in the books of accounts at cost price”. (5) Dual-aspect concept: According to this “Every business transactions has a two-fold- aspects (receiving and giving benifit) of same value”. (6) Accounting period concept: As per the going concern concept every business is intended to be continued indefinitely for a long period in future. In that case the trading result cant be ascertained in the life time. For this “The convinient period of time is selected by dividing the estimated period of life of the business for ascertaining the net result of business during a given period as well as financial position of the business as on that date”. (7) Realisation concept: According to the “revenue is said to be recognised from sale of goods, or services only when revenue is actually realised. (8) Matching Concept: Earning prof it is the object of ever}’ business enterprise. It has been the duty of an accountant to calculate exact accurate prof it. The result of there efforts was the introduction of the principle of matching cost and Revenue. According to this principle income can be as curtained by matching revenue of the business with its costs. (9) Accrual Concept: Accrual means recognition of revenue and costs as they are earned or incurred and not as money is received or paid. The accrual concept relates to measurement of income. Identifying assets is\xa0liabilities Example: Recording salary payable to staff commission receivable & etc.......?????✌✌?? | |
| 4556. |
What are the attributes (features) of accounting? |
| Answer» 1) provide complete and systematic record2) helpful in management of business3) evidence in legal matter4) helpful in rising loans5) enable comparative study | |
| 4557. |
\'\'Non-monetary transactions are not recorded in the books of accounts.\'\' Explain. |
| Answer» Yes, Non-monetry transaction are not recorded in the books of accounts. Only those transaction are recorded in books of accounts that are miserable in monetary terms.. | |
| 4558. |
What are sales return? |
| Answer» A sales return is merchandise sent back by a buyer to the seller, usually for one of the following reasons: Excess quantity shipped. Excess quantity ordered. Defective goods. Goods shipped too late.<br>When the goods previously sold on credit are returned by the customers, such return are recorded in this book. | |
| 4559. |
State any two characteristics of journal |
| Answer» It is double entry system and it records day to day transactions. | |
| 4560. |
Why are we adding abnormal losses and less abnormal profits to calculate normal profit? |
| Answer» | |
| 4561. |
The meaning of accounting |
| Answer» Hi myself Ankush do you know me ??<br>Accounting is a process of collecting, recording, classified, summarising or communiting financing information to the user | |
| 4562. |
What accounting method is followed for the recording of transactions? |
| Answer» Both double entry system + single entry system<br>Double entry system | |
| 4563. |
May 5 bought goods from Naveen for rupees 20000 of which goods worth rupees 12000 was on credit |
| Answer» Goods price 20000 purchase at a list price 20000 and 12000 on credittt so add themm<br>Purchases A/c--------------------Dr To Naveen | |
| 4564. |
Difference between debit and credit |
| Answer» the left side is the debit side while the right side is the credit side .if an accounts is to be debited, then the entry is posted the debit sides of the account. | |
| 4565. |
What do you mean capital |
| Answer» The amount invested by a Proprietor to start a business is known as Capital<br>The person brought cash or money to start a business is known as capital<br>Capital is the amount invested by the proprietor or partner in the business.on the other hand, it reduces when it is withdrawn (drawings) or loss is incurred by the business<br>Capital a large sum of money which you use to start a business, or which you invest in order to make more money. Capital is the part of an amount of money borrowed or invested which does not include interest.Hope this helps you ?<br>an amount of money that you use to start a business or to put in a bank, etc. so that you earn more money (interest) on it | |
| 4566. |
How to know in which transaction tax will be applicable? |
| Answer» **** off<br>Hi | |
| 4567. |
Chapter 3 recording of transaction 1 notes send me |
| Answer» | |
| 4568. |
How "honoured our own acceptance by cheque" entry will be recorded in cash book ? |
| Answer» | |
| 4569. |
A suggest list of different items |
| Answer» Huggb gyhbnvbdbs dbshs sjsbd dhsb dhdhdhdbs sbbd d d d f f fbdjsjs shzhsbsowoejdb ddijendkmxbxbcgejs dudjenakisnx x cbdisn d | |
| 4570. |
what is accounting? define its objectives |
| Answer» It is the process of identifying , recording , classifying , summarising , interpretating and communicating to the users | |
| 4571. |
I need 30 transaction . Journal entries ledger and trial balance |
| Answer» | |
| 4572. |
Purchased goods for cash from Govind for rs6000 at 20% trade discount |
| Answer» 20% of 6000 = 1200 Also trade discount in not recorded in the books of accounts Therefore the journal entry will be Purchases dr. 4800 To cash. 4800 Also here Govind will not be credited as it\'s a cash transaction<br>20% of 6000 = 1200Also trade discount in not recorded in the books of accountsTherefore the journal entry will bePurchases dr. 4800 To cash. 4800Also here Govind will not be credited as it\'s a cash transaction | |
| 4573. |
Project for account |
| Answer» How can make project file on principles of account | |
| 4574. |
shai is depreciation |
| Answer» | |
| 4575. |
Which of the following is treated as an asset |
| Answer» Where are the options? | |
| 4576. |
Oct. 2 Bought goods for ₹15000 for cash vide Cash Memo No. 891 paid CGST and SGST @6% each |
| Answer» | |
| 4577. |
Furniture purchased for office use journal entry |
| Answer» Furniture A/C Dr. To cash/ bank/ creditors A/C<br>Furniture a/c Dr. To cash a/c<br>Furniture A/c To cash/Bank A/c | |
| 4578. |
Accounts project of journal 30 entries |
| Answer» | |
| 4579. |
From the following transaction prepare cash book with discount cash and Bank column bank overdraft |
| Answer» | |
| 4580. |
30 transaction with GST |
| Answer» | |
| 4581. |
Simple entries |
| Answer» What is accounting | |
| 4582. |
What is the objective of posting in accounting? |
| Answer» Posting in accounting is when the balances in subledgers and the general journal are shifted into the general ledger. Posting only transfers the total balance in a subledger into the general ledger, not the individual transactions in the subledger. | |
| 4583. |
Which of the following is not a fixed asset |
| Answer» Stock<br>Stock | |
| 4584. |
Goods purchased for cash are recorded in the _______ |
| Answer» Cash book<br>Journal proper andCash book | |
| 4585. |
What is accountacy ? |
| Answer» @Ratnesh Mahto Accounting can be defined as a\xa0process of reporting, recording, interpreting and summarising economic data. The introduction of accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business. | |
| 4586. |
Who made accountancy and where?? |
| Answer» @Arun Kumar The father of modern accounting is\xa0Italian Luca Pacioli, who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica, Geometria, Proportioni et Proportionalita. | |
| 4587. |
What is suspense account ?? |
| Answer» @Riya Pal for more details and better understanding ........Jb koi entry trace ni hi pati.. Jaise bank me paise aye lekin pta ni hai k konsi party se aaye to kuch time k liye suspense account me daal dete haiJb clarity aa jati to relevant account me post kr dete hai<br>Suspense accounts contain entries where there are uncertainties or discrepancies. For example, if an individual makes a deposit but accidentally writes down an account number incorrectly, that money will be housed in a suspense account until the error is corrected. | |
| 4588. |
Expenses are _______ |
| Answer» Its refers to the money incuured and earned in a business<br>Expenses refer to those\xa0costs that are incurred to earn revenue for the business. It is incurred for maintaining profitability of the business. It indicates the amount spent to meet short-term needs of the business. It is shown in the debit side of the profit and loss account or trading account. | |
| 4589. |
Prepare a doble column cash book with shri daya ram |
| Answer» | |
| 4590. |
35 transactions project |
| Answer» | |
| 4591. |
What\'s is rectification of error |
| Answer» Rectification of error means those mistakes which is doing by accountants can be solve or rectified | |
| 4592. |
Essay of 6542 Rajat has been credited to his account |
| Answer» | |
| 4593. |
25 transaction with their story, journal, ledger and trial balance |
| Answer» | |
| 4594. |
Namita started business with cash stock and furniture |
| Answer» | |
| 4595. |
Explain the rules of accounting journal |
| Answer» First chapter notes 11th class | |
| 4596. |
Aruna decided to start a business of fashion garments |
| Answer» Complete the question | |
| 4597. |
Pass necessary journal entries for the following transaction |
| Answer» | |
| 4598. |
Paid cash to kamlesh 10000 |
| Answer» Kamlesh A/ c Dr To Cash A/c<br>Cash A/c Dr... 10000. To kamlesh A/c 10000 | |
| 4599. |
Pass 20 journal entries including GST and post them into ledger and prepare trial balance |
| Answer» | |
| 4600. |
Plz give some fill up for preparation bcz in our half yearly exams they will have also |
| Answer» You can take ts Grewals new addition because it contains so much mcqs, fill ups, true false and much more.<br>U should solve ncert questions and should refer sample papers, previous year questions and try to solve more and more questions.Also, u should learn to manage time during exam. | |