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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.
| 101. |
Whichofthefollowingstatements are correctabout a "Provitions " ?(i) Provisions area charge againsttheprofitsof andenterpise (ii) Provisionsare createdout ofdivisibleprofits (iii) Creationof provisions are notnecessary for abusiness (iv) Provisionsare created to meeta known liability |
| Answer» <html><body><p>(i),(<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>)and(<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) <br/>(ii)and(<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>) only <br/>(i), (iii) and(iv) <br/>(i) and(iv) only </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :d</body></html> | |
| 102. |
Which ofthe followingstatementsis notappropriate in relation to"Provision"? |
| Answer» <html><body><p>Provisiion is a charged againstprofit <br/><a href="https://interviewquestions.tuteehub.com/tag/provision-607840" style="font-weight:bold;" target="_blank" title="Click to know more about PROVISION">PROVISION</a> is <a href="https://interviewquestions.tuteehub.com/tag/created-7257327" style="font-weight:bold;" target="_blank" title="Click to know more about CREATED">CREATED</a> forknown liability <br/>Provisionis created for strengtheningthefinancial positionofthebusiness. <br/><a href="https://interviewquestions.tuteehub.com/tag/creation-938416" style="font-weight:bold;" target="_blank" title="Click to know more about CREATION">CREATION</a> of provisionsatisfies theprincipleof <a href="https://interviewquestions.tuteehub.com/tag/conservatism-424801" style="font-weight:bold;" target="_blank" title="Click to know more about CONSERVATISM">CONSERVATISM</a>. </p>Answer :c</body></html> | |
| 103. |
Which of the following statement is not correct ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/provision-607840" style="font-weight:bold;" target="_blank" title="Click to know more about PROVISION">PROVISION</a> for Doubtful Debts <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> is <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> payable to debtors. <br/><a href="https://interviewquestions.tuteehub.com/tag/bad-389290" style="font-weight:bold;" target="_blank" title="Click to know more about BAD">BAD</a> Debts can be more than the amount of Provision for Doubtful Debts. <br/>Bad Debts can be less than than amount of Provision for Doubtful Debt. <br/>Provision for Doubtful Debts is shown in the Balance Sheet. </p>Solution :Provision for Doubtful Debts Account is amount payable to debtors.</body></html> | |
| 104. |
Which of the following transaction is not of financial character ? |
| Answer» <html><body><p>Purchase of <a href="https://interviewquestions.tuteehub.com/tag/asset-885901" style="font-weight:bold;" target="_blank" title="Click to know more about ASSET">ASSET</a> on credit<br/>Purchase of asset for cash<br/>Withdrawing of <a href="https://interviewquestions.tuteehub.com/tag/money-25502" style="font-weight:bold;" target="_blank" title="Click to know more about MONEY">MONEY</a> by proprietor from business<br/><a href="https://interviewquestions.tuteehub.com/tag/strike-1229479" style="font-weight:bold;" target="_blank" title="Click to know more about STRIKE">STRIKE</a> by employees</p>Solution :Strike by employees</body></html> | |
| 105. |
which of thefollowingsoftwareis notoperatingsoftware : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/ms-549331" style="font-weight:bold;" target="_blank" title="Click to know more about MS">MS</a>-DOS<br/>Windows XP<br/>MS <a href="https://interviewquestions.tuteehub.com/tag/word-1458917" style="font-weight:bold;" target="_blank" title="Click to know more about WORD">WORD</a> <br/>All of the above</p>Solution :MS word</body></html> | |
| 106. |
Which of the following software is not an operating software ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/ms-549331" style="font-weight:bold;" target="_blank" title="Click to know more about MS">MS</a> DOS<br/>Windows XP<br/>MS <a href="https://interviewquestions.tuteehub.com/tag/word-1458917" style="font-weight:bold;" target="_blank" title="Click to know more about WORD">WORD</a><br/>None of these</p>Solution :MS word</body></html> | |
| 107. |
Which of the following should be a 'charge' against profit and which should be an appropriation' of profit? (a) Provision for Doubtful Debts, (b) Provision for Depreciation, and (c) General Reserve. |
| Answer» <html><body><p></p>Solution :(a) Provision for Doubtful Debts is a charge against <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a>. <br/> (b) Provision for <a href="https://interviewquestions.tuteehub.com/tag/depreciation-948712" style="font-weight:bold;" target="_blank" title="Click to know more about DEPRECIATION">DEPRECIATION</a> is a charge against profit. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>) <a href="https://interviewquestions.tuteehub.com/tag/general-471730" style="font-weight:bold;" target="_blank" title="Click to know more about GENERAL">GENERAL</a> <a href="https://interviewquestions.tuteehub.com/tag/reserve-1186088" style="font-weight:bold;" target="_blank" title="Click to know more about RESERVE">RESERVE</a> is an appropriation of porfit.</body></html> | |
| 108. |
Which of the following not require adjustment in the Cash Book balance ? |
| Answer» <html><body><p>Cheque issued but not presented for payment <br/> Cheque deposited but not <a href="https://interviewquestions.tuteehub.com/tag/cleared-7282820" style="font-weight:bold;" target="_blank" title="Click to know more about CLEARED">CLEARED</a>. <br/>Cheque <a href="https://interviewquestions.tuteehub.com/tag/wrongly-732715" style="font-weight:bold;" target="_blank" title="Click to know more about WRONGLY">WRONGLY</a> <a href="https://interviewquestions.tuteehub.com/tag/credited-7316860" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITED">CREDITED</a> by bank <br/>All of the above</p>Solution :Cheque wrongly credited by bank</body></html> | |
| 109. |
Which of the following may have both Dr. or Cr. Balance |
| Answer» <html><body><p>Only <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> column of a cash <a href="https://interviewquestions.tuteehub.com/tag/book-900767" style="font-weight:bold;" target="_blank" title="Click to know more about BOOK">BOOK</a> <br/>Only <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> column of cash book <br/>Both cash and bank column <br/>Neither bank nor cash column </p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 110. |
Which of the following limitations of accounting states that accounts amy be manipulated to conceal vital facts : |
| Answer» <html><body><p>Accounting is not <a href="https://interviewquestions.tuteehub.com/tag/fully-2663010" style="font-weight:bold;" target="_blank" title="Click to know more about FULLY">FULLY</a> exact<br/>Accounting may lead to <a href="https://interviewquestions.tuteehub.com/tag/window-11540" style="font-weight:bold;" target="_blank" title="Click to know more about WINDOW">WINDOW</a> dressing<br/>Accounting ignores <a href="https://interviewquestions.tuteehub.com/tag/prices-1165311" style="font-weight:bold;" target="_blank" title="Click to know more about PRICES">PRICES</a> <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> changes<br/>Accounting ignores qualitative elements</p>Answer :B</body></html> | |
| 111. |
whichof thefollowinglimitationof acomputer : |
| Answer» <html><body><p>speed<br/>accuracy <br/><a href="https://interviewquestions.tuteehub.com/tag/intelligence-1047261" style="font-weight:bold;" target="_blank" title="Click to know more about INTELLIGENCE">INTELLIGENCE</a> ?<br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of the above</p>Solution :intelligence ?</body></html> | |
| 112. |
Which of the following is the most relevant accounting information for taxation autherities ? |
| Answer» <html><body><p>Cash <a href="https://interviewquestions.tuteehub.com/tag/balance-891682" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCE">BALANCE</a> of the firm <br/><a href="https://interviewquestions.tuteehub.com/tag/book-900767" style="font-weight:bold;" target="_blank" title="Click to know more about BOOK">BOOK</a> value of the fixed assets<br/>Credit <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> of the year<br/>Profit <a href="https://interviewquestions.tuteehub.com/tag/generated-2093392" style="font-weight:bold;" target="_blank" title="Click to know more about GENERATED">GENERATED</a> during the year</p>Answer :D</body></html> | |
| 113. |
Which of the following is the objective of Accounting ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/systematic-1237480" style="font-weight:bold;" target="_blank" title="Click to know more about SYSTEMATIC">SYSTEMATIC</a> <a href="https://interviewquestions.tuteehub.com/tag/recording-1180449" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDING">RECORDING</a><br/>Comparison and Evaluation<br/>Solvency Position<br/>Forecasting</p>Solution :Systematic Recording</body></html> | |
| 114. |
Which of the following is the error of principle ? |
| Answer» <html><body><p>The <a href="https://interviewquestions.tuteehub.com/tag/purchase-1172709" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASE">PURCHASE</a> book was overcasted by <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 500<br/>Credit sale to Arun Rs. 700 recorded as purchase from Arun<br/>Goods returned to Charu Rs. 4,000, posted in Chinoo's A/C<br/><a href="https://interviewquestions.tuteehub.com/tag/wages-1448569" style="font-weight:bold;" target="_blank" title="Click to know more about WAGES">WAGES</a> <a href="https://interviewquestions.tuteehub.com/tag/paid-1145567" style="font-weight:bold;" target="_blank" title="Click to know more about PAID">PAID</a> for <a href="https://interviewquestions.tuteehub.com/tag/installation-16361" style="font-weight:bold;" target="_blank" title="Click to know more about INSTALLATION">INSTALLATION</a> of machinery debited to Wages A/C</p>Answer :D</body></html> | |
| 115. |
Which of the following is the Capital expenditure? |
| Answer» <html><body><p>Wages <a href="https://interviewquestions.tuteehub.com/tag/paid-1145567" style="font-weight:bold;" target="_blank" title="Click to know more about PAID">PAID</a> for repair of building <br/>Wages paid for <a href="https://interviewquestions.tuteehub.com/tag/white-742716" style="font-weight:bold;" target="_blank" title="Click to know more about WHITE">WHITE</a> <a href="https://interviewquestions.tuteehub.com/tag/washing-733498" style="font-weight:bold;" target="_blank" title="Click to know more about WASHING">WASHING</a> of building <br/>Wages paid for construction of building <br/>Wages paid for cleaning of building</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 116. |
Which of the following is revenue ? |
| Answer» <html><body><p>Purchases<br/>Purchases Return<br/><a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a><br/>Salary Payable</p>Solution :Sales</body></html> | |
| 117. |
Which of the following is not the user of accounting information ? |
| Answer» <html><body><p>Short-term creditors<br/><a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a><br/>Government<br/>Owners</p>Solution :Debtors</body></html> | |
| 118. |
Which of the following is not shown in Balance Sheet ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/opening-1136658" style="font-weight:bold;" target="_blank" title="Click to know more about OPENING">OPENING</a> <a href="https://interviewquestions.tuteehub.com/tag/stock-1227804" style="font-weight:bold;" target="_blank" title="Click to know more about STOCK">STOCK</a><br/>Closing Stock<br/>Patents<br/>Debtors</p>Solution :Opening Stock</body></html> | |
| 119. |
Which of the following is not recorded in cash book : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/trade-711631" style="font-weight:bold;" target="_blank" title="Click to know more about TRADE">TRADE</a> discount <br/><a href="https://interviewquestions.tuteehub.com/tag/bad-389290" style="font-weight:bold;" target="_blank" title="Click to know more about BAD">BAD</a> Debts <br/><a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a> Purchases <br/>All of the above </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :D</body></html> | |
| 120. |
Which of the following is not an internal user of financial statements? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/board-900060" style="font-weight:bold;" target="_blank" title="Click to know more about BOARD">BOARD</a> of Directors<br/>Managers<br/>Employees<br/><a href="https://interviewquestions.tuteehub.com/tag/lenders-1071493" style="font-weight:bold;" target="_blank" title="Click to know more about LENDERS">LENDERS</a></p>Solution :Lenders</body></html> | |
| 121. |
Which of the following is not an expense ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/furniture-1002510" style="font-weight:bold;" target="_blank" title="Click to know more about FURNITURE">FURNITURE</a><br/>Salary<br/>Rent<br/>Electricity <a href="https://interviewquestions.tuteehub.com/tag/expenses-980258" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSES">EXPENSES</a> </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Furniture</body></html> | |
| 122. |
whichof thefollowingis notan input device : |
| Answer» <html><body><p>Scanner<br/>Keyboard<br/><a href="https://interviewquestions.tuteehub.com/tag/monitor-563344" style="font-weight:bold;" target="_blank" title="Click to know more about MONITOR">MONITOR</a> ?<br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of the above</p>Solution :Monitor ?</body></html> | |
| 123. |
Which of the following is not an input device ? |
| Answer» <html><body><p>Scanner<br/>Keyboard<br/><a href="https://interviewquestions.tuteehub.com/tag/monitor-563344" style="font-weight:bold;" target="_blank" title="Click to know more about MONITOR">MONITOR</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Monitor</body></html> | |
| 124. |
Which of the following is not an error of principle? |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :D</body></html> | |
| 125. |
Which of the following is not an error of commission : |
| Answer» <html><body><p>A <a href="https://interviewquestions.tuteehub.com/tag/sale-1193496" style="font-weight:bold;" target="_blank" title="Click to know more about SALE">SALE</a> of Rs. <a href="https://interviewquestions.tuteehub.com/tag/560-325686" style="font-weight:bold;" target="_blank" title="Click to know more about 560">560</a> not recorded in books at all.<br/>Rent paid to <a href="https://interviewquestions.tuteehub.com/tag/landlord-1066126" style="font-weight:bold;" target="_blank" title="Click to know more about LANDLORD">LANDLORD</a> was <a href="https://interviewquestions.tuteehub.com/tag/posted-2944562" style="font-weight:bold;" target="_blank" title="Click to know more about POSTED">POSTED</a> to Landlord's account<br/>A purchase of Rs. 840 was wrongly posted to sales account<br/>Instead of creding Shyam credited the other <a href="https://interviewquestions.tuteehub.com/tag/creditor-938661" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITOR">CREDITOR</a> Sham.</p>Answer :A</body></html> | |
| 126. |
Which of the following is not an error of principle: |
| Answer» <html><body><p>Purchase of furniture <a href="https://interviewquestions.tuteehub.com/tag/debited-2043748" style="font-weight:bold;" target="_blank" title="Click to know more about DEBITED">DEBITED</a> to <a href="https://interviewquestions.tuteehub.com/tag/purchases-1172772" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASES">PURCHASES</a> account. <br/> Repairs on the overhauling of second hand <a href="https://interviewquestions.tuteehub.com/tag/machinery-1082418" style="font-weight:bold;" target="_blank" title="Click to know more about MACHINERY">MACHINERY</a> purchased debited to repairs account.<br/>Cash received from Manoj <a href="https://interviewquestions.tuteehub.com/tag/posted-2944562" style="font-weight:bold;" target="_blank" title="Click to know more about POSTED">POSTED</a> to Saroj. <br/> Sale of old car credited to <a href="https://interviewquestions.tuteehub.com/tag/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> account.<br/></p>Solution : (c)</body></html> | |
| 127. |
Which of the following is not an error of commission |
| Answer» <html><body><p> <a href="https://interviewquestions.tuteehub.com/tag/overcasting-7703017" style="font-weight:bold;" target="_blank" title="Click to know more about OVERCASTING">OVERCASTING</a> of sales <a href="https://interviewquestions.tuteehub.com/tag/book-900767" style="font-weight:bold;" target="_blank" title="Click to know more about BOOK">BOOK</a>. <br/> <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a> sales to Ramesh 5,000 credited to his account. <br/>Wrong balancing of machinery account.<br/><a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> sales not recorded in cash book.<br/></p>Solution : (d)</body></html> | |
| 128. |
Which of the following is not a sub field of accounting ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a> accounting<br/>Book keeping<br/>Management accounting<br/>Cost accounting</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 129. |
Which of the following is not a qualitative characteristic of accounting information? |
| Answer» <html><body><p>Reliability<br/>Understandability<br/>Comparability<br/><a href="https://interviewquestions.tuteehub.com/tag/materiality-1089371" style="font-weight:bold;" target="_blank" title="Click to know more about MATERIALITY">MATERIALITY</a></p>Solution :Materiality</body></html> | |
| 130. |
Which of the following is not a long - term liability ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/creditors-938665" style="font-weight:bold;" target="_blank" title="Click to know more about CREDITORS">CREDITORS</a><br/>Term <a href="https://interviewquestions.tuteehub.com/tag/loan-1076737" style="font-weight:bold;" target="_blank" title="Click to know more about LOAN">LOAN</a><br/>Debentures <br/><a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> loan </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Creditors</body></html> | |
| 131. |
Which of the following is not a limitation of accounting |
| Answer» <html><body><p>To provided information about the assets, <a href="https://interviewquestions.tuteehub.com/tag/liabilities-1072887" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITIES">LIABILITIES</a> and capital of the enterprise.<br/>To provide information about the private assets and liabilities of the proprietor.<br/>To maintain records of the business<br/>To provide information <a href="https://interviewquestions.tuteehub.com/tag/regarding-7661537" style="font-weight:bold;" target="_blank" title="Click to know more about REGARDING">REGARDING</a> the <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> and <a href="https://interviewquestions.tuteehub.com/tag/loss-1079380" style="font-weight:bold;" target="_blank" title="Click to know more about LOSS">LOSS</a> of the enterprise</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 132. |
Which of the following is not a fixed asset ? |
| Answer» <html><body><p>Building<br/>Plant and Machinery<br/><a href="https://interviewquestions.tuteehub.com/tag/balance-891682" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCE">BALANCE</a> with <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a><br/>Goodwill</p>Solution :Balance with bank</body></html> | |
| 133. |
Which of the following is not a business transactions? |
| Answer» <html><body><p>Purchase of <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> for resale amounted toRs. 50,000<br/>Paid salaries and wages amounted to Rs. 10,000<br/>Paid <a href="https://interviewquestions.tuteehub.com/tag/rent-1184968" style="font-weight:bold;" target="_blank" title="Click to know more about RENT">RENT</a> for <a href="https://interviewquestions.tuteehub.com/tag/office-1129028" style="font-weight:bold;" target="_blank" title="Click to know more about OFFICE">OFFICE</a> premises Rs. 5,000<br/><a href="https://interviewquestions.tuteehub.com/tag/purchased-2962400" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASED">PURCHASED</a> a LCD for personal use</p>Solution :Purchased a LCD for personal use</body></html> | |
| 134. |
Which of the following is not a characteristicof accounting? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/recording-1180449" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDING">RECORDING</a> non-monetary <a href="https://interviewquestions.tuteehub.com/tag/transactions-18175" style="font-weight:bold;" target="_blank" title="Click to know more about TRANSACTIONS">TRANSACTIONS</a> <br/>Classifying<br/>Analysis<br/>Summarising</p>Solution :Recording non-monetary transactions</body></html> | |
| 135. |
Which of the following is not a business transaction ? |
| Answer» <html><body><p>Bought furniture ₹25,000 for business <br/><a href="https://interviewquestions.tuteehub.com/tag/paid-1145567" style="font-weight:bold;" target="_blank" title="Click to know more about PAID">PAID</a> for salaries of employees,₹ 20,000<br/><a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> withdraw from personal <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> account , ₹ 10,000 for personal <a href="https://interviewquestions.tuteehub.com/tag/use-1441041" style="font-weight:bold;" target="_blank" title="Click to know more about USE">USE</a> <br/>All of the above.</p>Solution :Cash withdraw from personal bank account , ₹ 10,000 for personal use</body></html> | |
| 136. |
Which of the following is not a busincess transaction ? |
| Answer» <html><body><p>Bought furniture of <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a> 25,000 for business<br/>Paid for <a href="https://interviewquestions.tuteehub.com/tag/salaries-1193459" style="font-weight:bold;" target="_blank" title="Click to know more about SALARIES">SALARIES</a> of employees, Rs 20,000<br/>Cash withdrawn from personal <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> account, Rs 10,000 for domestic use. <br/>All of the above</p>Solution :Cash withdrawn from personal bank account, Rs 10,000 for domestic use.</body></html> | |
| 137. |
Which of the following is known as ''Principle Book of Accounting''? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/ledger-1070861" style="font-weight:bold;" target="_blank" title="Click to know more about LEDGER">LEDGER</a> <br/>Journal<br/>Trial balance<br/>Balance sheet</p>Answer :A</body></html> | |
| 138. |
Which of the following is correct? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a></body></html> | |
| 139. |
Which of the following is an output device? |
| Answer» <html><body><p>Scanner<br/><a href="https://interviewquestions.tuteehub.com/tag/printer-1166411" style="font-weight:bold;" target="_blank" title="Click to know more about PRINTER">PRINTER</a><br/>Smart <a href="https://interviewquestions.tuteehub.com/tag/card-909478" style="font-weight:bold;" target="_blank" title="Click to know more about CARD">CARD</a> <a href="https://interviewquestions.tuteehub.com/tag/reader-1178355" style="font-weight:bold;" target="_blank" title="Click to know more about READER">READER</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these. </p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Printer</body></html> | |
| 140. |
Whichof thefollowingis correct ? |
| Answer» <html><body><p>`{:(,"<a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a>",,"Liabilities",,"<a href="https://interviewquestions.tuteehub.com/tag/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a>"),((a),"₹ 785000",,"₹ 125000",,"₹ 660000"):}`<br/>`{:(,"Assets",,"Liabilities",,"Capital"),((<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>),"₹ 820000",,"₹ 280000",,"₹ 1100000"):}`<br/>`{:(,"Assets",,"Liabilities",,"Capital"),((<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>),"₹ 955000",,"₹ 115000",,"₹ 820000"):}`<br/>`{:(,"Assets",,"Liabilities",,"Capital"),((d),"₹ 542000",,"₹ 654000",,"₹ 112000"):}`</p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :`{:(,"Assets",,"Liabilities",,"Capital"),((a),"₹ 785000",,"₹ 125000",,"₹ 660000"):}`</body></html> | |
| 141. |
Which of the following is correct : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/operating-1136761" style="font-weight:bold;" target="_blank" title="Click to know more about OPERATING">OPERATING</a> <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> `=` Operating profit `–` Non-operating <a href="https://interviewquestions.tuteehub.com/tag/expenses-980258" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSES">EXPENSES</a> `–` Non-operating <a href="https://interviewquestions.tuteehub.com/tag/incomes-1040086" style="font-weight:bold;" target="_blank" title="Click to know more about INCOMES">INCOMES</a><br/>Operating profit `=` <a href="https://interviewquestions.tuteehub.com/tag/net-5194" style="font-weight:bold;" target="_blank" title="Click to know more about NET">NET</a> profit `+` Non-operating Expenses `+` Non-operating incomes<br/>Operating profit `=` Net profit `+` Non-operating Expenses `–` Non-operating incomes<br/>Operating profit `=` Net profit `–` Non-operating Expenses `+` Non-operating incomes</p></body></html> | |
| 142. |
Which of the following is capital expenditure? |
| Answer» <html><body><p>Wages <br/>Wages <a href="https://interviewquestions.tuteehub.com/tag/paid-1145567" style="font-weight:bold;" target="_blank" title="Click to know more about PAID">PAID</a> for <a href="https://interviewquestions.tuteehub.com/tag/building-905221" style="font-weight:bold;" target="_blank" title="Click to know more about BUILDING">BUILDING</a> construction <br/><a href="https://interviewquestions.tuteehub.com/tag/repair-1185018" style="font-weight:bold;" target="_blank" title="Click to know more about REPAIR">REPAIR</a> <a href="https://interviewquestions.tuteehub.com/tag/expenses-980258" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSES">EXPENSES</a> of building <br/>Advertisment Expenses</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 143. |
Which of the following is correct ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/operating-1136761" style="font-weight:bold;" target="_blank" title="Click to know more about OPERATING">OPERATING</a> Profit = <a href="https://interviewquestions.tuteehub.com/tag/net-5194" style="font-weight:bold;" target="_blank" title="Click to know more about NET">NET</a> Profit + Non - Operating Epenses - Non -operating Income<br/>Operating Profit = Net Profit + Non-operating Expenses + Non-operating Income<br/>Operating Profit = Net Profit + Non-operating Expenses - Non-operating Income<br/>Opertin Profit = Net Profit - Non-operating Expenses + Non-operating Income</p>Solution :Operating Profit = Net Profit + Non-operating Expenses - Non-operating Income</body></html> | |
| 144. |
Which of the following is a liability ? |
| Answer» <html><body><p>Furniture<br/><a href="https://interviewquestions.tuteehub.com/tag/rent-1184968" style="font-weight:bold;" target="_blank" title="Click to know more about RENT">RENT</a> <a href="https://interviewquestions.tuteehub.com/tag/payable-597657" style="font-weight:bold;" target="_blank" title="Click to know more about PAYABLE">PAYABLE</a><br/>Interest Received<br/>Stock</p>Solution :Rent Payable</body></html> | |
| 145. |
Which ofthefollowingis a correctdifferencebetweenaprovisionandreserve ? |
| Answer» <html><body><p>A provisionis createdout of alegal necessity <a href="https://interviewquestions.tuteehub.com/tag/whereas-2326610" style="font-weight:bold;" target="_blank" title="Click to know more about WHEREAS">WHEREAS</a> a reserve is createdas a matterof pruence. <br/>A <a href="https://interviewquestions.tuteehub.com/tag/provision-607840" style="font-weight:bold;" target="_blank" title="Click to know more about PROVISION">PROVISION</a> is invested whereas reserve is notinvested<br/>A provision is an appropriationof profit <a href="https://interviewquestions.tuteehub.com/tag/whereasa-8431685" style="font-weight:bold;" target="_blank" title="Click to know more about WHEREASA">WHEREASA</a> reserveis achargeagainstprofit. <br/>A provisioncan be <a href="https://interviewquestions.tuteehub.com/tag/used-2318798" style="font-weight:bold;" target="_blank" title="Click to know more about USED">USED</a> for distributionof dividendwhereasareservecannotbe allowed to be usedfor distributionof dividend. </p>Answer :a</body></html> | |
| 146. |
Which of the following is an asset ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/machinery-1082418" style="font-weight:bold;" target="_blank" title="Click to know more about MACHINERY">MACHINERY</a><br/>Purchases<br/>Sales Return<br/>Interest Received</p>Solution :Machinery</body></html> | |
| 147. |
Which of the following is a limitation of accounting? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/assistance-886019" style="font-weight:bold;" target="_blank" title="Click to know more about ASSISTANCE">ASSISTANCE</a> to Management<br/>Replaces Memory<br/><a href="https://interviewquestions.tuteehub.com/tag/unrealistic-717934" style="font-weight:bold;" target="_blank" title="Click to know more about UNREALISTIC">UNREALISTIC</a> <a href="https://interviewquestions.tuteehub.com/tag/information-1043838" style="font-weight:bold;" target="_blank" title="Click to know more about INFORMATION">INFORMATION</a><br/>Evidence in Court</p>Solution :Unrealistic Information</body></html> | |
| 148. |
Whichofthe followingis a correctdistinctionbetweena Revenuereserveianda Capitalreserve ? |
| Answer» <html><body><p>A revenuereserveis createdout ofcapitalprofitswhereas a capitalreserveis createdout ofbusiness profits. <br/>A revenue reserve can be usedfor distributionof dividend with certain preconditionswhereas acapitalreservecan beusedfor distribution ofdividendwithoutany preconditions<br/>A revenue reserve is created forstrengthening the financialpositionwhereas capitalreserve is created for meetingcapitallosses or to beused for <a href="https://interviewquestions.tuteehub.com/tag/purposes-1173299" style="font-weight:bold;" target="_blank" title="Click to know more about PURPOSES">PURPOSES</a> specified bythe <a href="https://interviewquestions.tuteehub.com/tag/companies-25572" style="font-weight:bold;" target="_blank" title="Click to know more about COMPANIES">COMPANIES</a> <a href="https://interviewquestions.tuteehub.com/tag/act-1106" style="font-weight:bold;" target="_blank" title="Click to know more about ACT">ACT</a>. <br/>There <a href="https://interviewquestions.tuteehub.com/tag/isno-2751364" style="font-weight:bold;" target="_blank" title="Click to know more about ISNO">ISNO</a> distinctionbetweenrevenuereserve and capitalreserve. </p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 149. |
Which of the following is a business transaction ? |
| Answer» <html><body><p>Goods purchased on <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a><br/>An employee being dismissed<br/>Proprietor purchasing a <a href="https://interviewquestions.tuteehub.com/tag/car-909011" style="font-weight:bold;" target="_blank" title="Click to know more about CAR">CAR</a> for own use<br/>Sale of <a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> asset by the proprietor</p>Solution :Goods purchased on credit</body></html> | |
| 150. |
Which of the following errors is revealed by the Trial Balance : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/wrong-1462035" style="font-weight:bold;" target="_blank" title="Click to know more about WRONG">WRONG</a> amount entered into the book of original entry<br/>Wrong amount posted in the ledger account<br/>Complete omission of an entry from the books of original entry<br/>When <a href="https://interviewquestions.tuteehub.com/tag/accounting-637" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNTING">ACCOUNTING</a> <a href="https://interviewquestions.tuteehub.com/tag/principle-1166255" style="font-weight:bold;" target="_blank" title="Click to know more about PRINCIPLE">PRINCIPLE</a> is violated while <a href="https://interviewquestions.tuteehub.com/tag/recording-1180449" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDING">RECORDING</a> a transaction in the books of account</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |