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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.
| 1851. |
Depreciation is a cash expenditure like other normal expenses. Comment. |
| Answer» <html><body><p></p>Solution :<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·non-<a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> expenditure because it does not <a href="https://interviewquestions.tuteehub.com/tag/involve-1051061" style="font-weight:bold;" target="_blank" title="Click to know more about INVOLVE">INVOLVE</a> any cash outflow.</body></html> | |
| 1852. |
Depreciation is a |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/reserve-1186088" style="font-weight:bold;" target="_blank" title="Click to know more about RESERVE">RESERVE</a> <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> <br/>Both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</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> :Provision</body></html> | |
| 1853. |
Depreciation for the second year "@ " 10% on Rs 15,000 purchase price will be - on the Fixed Instalment, whereas it will be - on the Diminishing Balance System. |
| 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/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a> 1,500, Rs 1,350.</body></html> | |
| 1854. |
Depreciation is |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> <a href="https://interviewquestions.tuteehub.com/tag/expenditure-980222" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENDITURE">EXPENDITURE</a><br/>capital expenditure<br/>Deferred Revenue Expenditure<br/>None 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> :revenue expenditure</body></html> | |
| 1855. |
Depreciation for currentyear appearing in the Trial Balance in shown in |
| Answer» <html><body><p>Debit of Profit and Loss Account and it is deducted from asset in the <a href="https://interviewquestions.tuteehub.com/tag/balance-891682" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCE">BALANCE</a> <a href="https://interviewquestions.tuteehub.com/tag/sheet-641829" style="font-weight:bold;" target="_blank" title="Click to know more about SHEET">SHEET</a>. <br/>Asset <a href="https://interviewquestions.tuteehub.com/tag/side-1206832" style="font-weight:bold;" target="_blank" title="Click to know more about SIDE">SIDE</a> of Balance Sheet as a deduction from the <a href="https://interviewquestions.tuteehub.com/tag/concernedstrong-2536362" style="font-weight:bold;" target="_blank" title="Click to know more about CONCERNED">CONCERNED</a> Asset. <br/>Debit side of Profit and Loss Account. <br/>Debit side of Trading Account. </p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/na-572417" style="font-weight:bold;" target="_blank" title="Click to know more about NA">NA</a></body></html> | |
| 1856. |
Depreciation cannot be provided in case of loss in a financial year. Comment. |
| 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> :Depreciation, being a <a href="https://interviewquestions.tuteehub.com/tag/charge-914384" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGE">CHARGE</a> against profit, has to be <a href="https://interviewquestions.tuteehub.com/tag/provided-2960341" style="font-weight:bold;" target="_blank" title="Click to know more about PROVIDED">PROVIDED</a> for, whether there is profit or loss in a financial year. If depreciation is not <a href="https://interviewquestions.tuteehub.com/tag/charged-7263949" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGED">CHARGED</a>, business will show <a href="https://interviewquestions.tuteehub.com/tag/lower-1080637" style="font-weight:bold;" target="_blank" title="Click to know more about LOWER">LOWER</a> loss and higher asset value.</body></html> | |
| 1857. |
Deprecation is decline in the market valyd of tangible fixed assets. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1858. |
Depreciation arises because of |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/wear-1450864" style="font-weight:bold;" target="_blank" title="Click to know more about WEAR">WEAR</a> and <a href="https://interviewquestions.tuteehub.com/tag/tear-1240221" style="font-weight:bold;" target="_blank" title="Click to know more about TEAR">TEAR</a><br/>Inflation<br/>Fall in the <a href="https://interviewquestions.tuteehub.com/tag/value-1442530" style="font-weight:bold;" target="_blank" title="Click to know more about VALUE">VALUE</a> of the asset<br/>None of these</p>Solution :Wear and Tear</body></html> | |
| 1859. |
Deprciation mean _______ in the book value of fixed Assets. |
| Answer» <html><body><p><br/></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/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a></body></html> | |
| 1860. |
Deprecation is charged on the amount paid for the asset, including GST paid. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1861. |
Depletion term is used in case of intangible assets |
| 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/f-455800" style="font-weight:bold;" target="_blank" title="Click to know more about F">F</a></body></html> | |
| 1862. |
Define Voucher |
| 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/voucher-1448322" style="font-weight:bold;" target="_blank" title="Click to know more about VOUCHER">VOUCHER</a> is an <a href="https://interviewquestions.tuteehub.com/tag/evidence-977636" style="font-weight:bold;" target="_blank" title="Click to know more about EVIDENCE">EVIDENCE</a> of a <a href="https://interviewquestions.tuteehub.com/tag/business-21797" style="font-weight:bold;" target="_blank" title="Click to know more about BUSINESS">BUSINESS</a> <a href="https://interviewquestions.tuteehub.com/tag/transaction-16213" style="font-weight:bold;" target="_blank" title="Click to know more about TRANSACTION">TRANSACTION</a></body></html> | |
| 1863. |
Define the term 'Purchase' |
| Answer» <html><body><p></p>Solution :The term 'Purchase' is used for 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 <a href="https://interviewquestions.tuteehub.com/tag/resale-1185877" style="font-weight:bold;" target="_blank" title="Click to know more about RESALE">RESALE</a> or for producing the finished products which are <a href="https://interviewquestions.tuteehub.com/tag/also-373387" style="font-weight:bold;" target="_blank" title="Click to know more about ALSO">ALSO</a> to be sold. The term 'purchase' <a href="https://interviewquestions.tuteehub.com/tag/includes-1039937" style="font-weight:bold;" target="_blank" title="Click to know more about INCLUDES">INCLUDES</a> both cash and <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 of goods. Goods purchased for cash are termed as Cash Purchases and goods purchased on credit are termed as Credit Purchases</body></html> | |
| 1864. |
Define Merchandise |
| 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/merchandise-1093968" style="font-weight:bold;" target="_blank" title="Click to know more about MERCHANDISE">MERCHANDISE</a> <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> <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 <a href="https://interviewquestions.tuteehub.com/tag/resale-1185877" style="font-weight:bold;" target="_blank" title="Click to know more about RESALE">RESALE</a></body></html> | |
| 1865. |
Define Merchandise. |
| 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/merchandise-1093968" style="font-weight:bold;" target="_blank" title="Click to know more about MERCHANDISE">MERCHANDISE</a> <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> <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 <a href="https://interviewquestions.tuteehub.com/tag/resale-1185877" style="font-weight:bold;" target="_blank" title="Click to know more about RESALE">RESALE</a>.</body></html> | |
| 1866. |
Define Drawings with example |
| Answer» <html><body><p></p>Solution :Drawings is the <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> 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> or value 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> which the proprietor or partner <a href="https://interviewquestions.tuteehub.com/tag/withdraws-1458038" style="font-weight:bold;" target="_blank" title="Click to know more about WITHDRAWS">WITHDRAWS</a> for <a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> use. For example, withdrawal of cash by the proprietor for personal use.</body></html> | |
| 1867. |
Define Bank overdraft. |
| 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/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> overdrat is the <a href="https://interviewquestions.tuteehub.com/tag/drawing-959485" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWING">DRAWING</a> out of a Bank <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> of more than what has been <a href="https://interviewquestions.tuteehub.com/tag/deposited-948649" style="font-weight:bold;" target="_blank" title="Click to know more about DEPOSITED">DEPOSITED</a> in it.</body></html> | |
| 1868. |
Define Book Keeping. |
| Answer» <html><body><p></p>Solution :Book <a href="https://interviewquestions.tuteehub.com/tag/keeping-1063392" style="font-weight:bold;" target="_blank" title="Click to know more about KEEPING">KEEPING</a> is an art of recording in the <a href="https://interviewquestions.tuteehub.com/tag/books-900981" style="font-weight:bold;" target="_blank" title="Click to know more about BOOKS">BOOKS</a> of account the monetary aspect of <a href="https://interviewquestions.tuteehub.com/tag/commercial-923169" style="font-weight:bold;" target="_blank" title="Click to know more about COMMERCIAL">COMMERCIAL</a> and financial transactions.</body></html> | |
| 1869. |
Define Bank Overdraft . |
| Answer» <html><body><p></p>Solution :Bank overdraft is the excessf <a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> withdrawn from the bank account than the amount <a href="https://interviewquestions.tuteehub.com/tag/deposited-948649" style="font-weight:bold;" target="_blank" title="Click to know more about DEPOSITED">DEPOSITED</a> in it.</body></html> | |
| 1870. |
Define a Sales Book. |
| 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/sales-25569" style="font-weight:bold;" target="_blank" title="Click to know more about SALES">SALES</a> <a href="https://interviewquestions.tuteehub.com/tag/book-900767" style="font-weight:bold;" target="_blank" title="Click to know more about BOOK">BOOK</a> is asubsidiarybook in which credit <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 goods dealt in are <a href="https://interviewquestions.tuteehub.com/tag/recorded-2240050" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDED">RECORDED</a>.</body></html> | |
| 1871. |
Define a Cheque. |
| Answer» <html><body><p></p>Solution :Cheque is a <a href="https://interviewquestions.tuteehub.com/tag/written-732709" style="font-weight:bold;" target="_blank" title="Click to know more about WRITTEN">WRITTEN</a> document drawn upon a specified banker and payable on <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a>.</body></html> | |
| 1872. |
Decrease in one liability may lead to |
| Answer» <html><body><p> Decrease in an asset.<br/>Increase in <a href="https://interviewquestions.tuteehub.com/tag/another-876628" style="font-weight:bold;" target="_blank" title="Click to know more about ANOTHER">ANOTHER</a> <a href="https://interviewquestions.tuteehub.com/tag/liability-541457" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITY">LIABILITY</a>.<br/> Either (c) or (b).<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>Answer :C</body></html> | |
| 1873. |
Debtors in the beginning of the year were Rs. 30,000, Sales on credit during the year were Rs. 75,000, Cash received from the Debtors during the year was Rs. 35,000, Returns Inward (regarding credit sales) were Rs. 5,000 and Bills Receivable drawn during the year were Rs. 25,000. Find the balance of Debtors at the end of year, assuming that there were Bad Debts during the year of Rs. 2,000. |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a> at the <a href="https://interviewquestions.tuteehub.com/tag/end-971042" style="font-weight:bold;" target="_blank" title="Click to know more about END">END</a> of the <a href="https://interviewquestions.tuteehub.com/tag/year-1464599" style="font-weight:bold;" target="_blank" title="Click to know more about YEAR">YEAR</a> - <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 38,000.</body></html> | |
| 1874. |
Debts that were earlier written off, if recovered, will be credited to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/debts-435567" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTS">DEBTS</a> Account <br/><a href="https://interviewquestions.tuteehub.com/tag/trading-1424689" style="font-weight:bold;" target="_blank" title="Click to know more about TRADING">TRADING</a> Account<br/>Profit 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> Account.<br/>none of these. </p>Solution :Profit and Loss Account.</body></html> | |
| 1875. |
Debtors, Bills Receivables, Bank Balances are examples fo fictitiuous assets. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1876. |
Debt written off as bad, if recovered subsequently, is credited to the Debtors' Account. Is it correct? Give reasons. |
| 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> :No. Debt <a href="https://interviewquestions.tuteehub.com/tag/written-732709" style="font-weight:bold;" target="_blank" title="Click to know more about WRITTEN">WRITTEN</a> off as bad, if recovered subsequently, is treated as a <a href="https://interviewquestions.tuteehub.com/tag/gain-469945" style="font-weight:bold;" target="_blank" title="Click to know more about GAIN">GAIN</a>. It is credited to the Bad Debts Recovered <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> because the debt had <a href="https://interviewquestions.tuteehub.com/tag/earlier-963550" style="font-weight:bold;" target="_blank" title="Click to know more about EARLIER">EARLIER</a> been debited to expenses.</body></html> | |
| 1877. |
Debit the receiver, Credit the _______ is the rule for personal Accounts. |
| Answer» <html><body><p><br/></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/giver-1007644" style="font-weight:bold;" target="_blank" title="Click to know more about GIVER">GIVER</a></body></html> | |
| 1878. |
Debit what comes in and credit what goes out is the rule of _______ Account. |
| Answer» <html><body><p><br/></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/real-1178490" style="font-weight:bold;" target="_blank" title="Click to know more about REAL">REAL</a></body></html> | |
| 1879. |
Debit the giver and credit the receiver is the rule of Personal Accounts. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1880. |
Debit notes issued are used to prepare : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/purchases-1172772" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASES">PURCHASES</a> <a href="https://interviewquestions.tuteehub.com/tag/return-1187910" style="font-weight:bold;" target="_blank" title="Click to know more about RETURN">RETURN</a> Book<br/>Sales Return Book<br/>Purchases Book<br/>Sales Book</p>Answer :A</body></html> | |
| 1881. |
Debit Note for₹1,000 issued to Suresh for goods returned by us is accounted in |
| Answer» <html><body><p>Sales Book <br/><a href="https://interviewquestions.tuteehub.com/tag/purchases-1172772" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASES">PURCHASES</a> Book <br/>Journal Proper <br/><a href="https://interviewquestions.tuteehub.com/tag/purchase-1172709" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASE">PURCHASE</a> Return Book </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> :Journal Proper</body></html> | |
| 1882. |
Debit means an increase in liability. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1883. |
Debit means |
| Answer» <html><body><p>an <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in asset <br/>an increase in <a href="https://interviewquestions.tuteehub.com/tag/liability-541457" style="font-weight:bold;" target="_blank" title="Click to know more about LIABILITY">LIABILITY</a> <br/>an increase in the proprietor's <a href="https://interviewquestions.tuteehub.com/tag/equity-974514" style="font-weight:bold;" target="_blank" title="Click to know more about EQUITY">EQUITY</a> <br/>a <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a> in asset </p>Solution :an increase in asset</body></html> | |
| 1884. |
Debit Note is the source of writing : |
| Answer» <html><body><p>A <a href="https://interviewquestions.tuteehub.com/tag/debit-945425" style="font-weight:bold;" target="_blank" title="Click to know more about DEBIT">DEBIT</a> <a href="https://interviewquestions.tuteehub.com/tag/entry-972873" style="font-weight:bold;" target="_blank" title="Click to know more about ENTRY">ENTRY</a> in an Account<br/>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> to a person<br/>Sales <a href="https://interviewquestions.tuteehub.com/tag/return-1187910" style="font-weight:bold;" target="_blank" title="Click to know more about RETURN">RETURN</a> Book<br/>Journal Proper</p>Answer :A</body></html> | |
| 1885. |
Debit in relation to Asset Accounts and Expense Accounts means an ________ but in relation to Liability Accounts, Capital Accounts and Revenue Acconts means a __________ |
| Answer» <html><body><p><br/></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/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a>, <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a></body></html> | |
| 1886. |
Debit balances of accounts are recorded in _________ column of Trial Balance. |
| Answer» <html><body><p><br/></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/debit-945425" style="font-weight:bold;" target="_blank" title="Click to know more about DEBIT">DEBIT</a></body></html> | |
| 1887. |
Debit balance of the Cash Book and the credit balance of Pass Book carry the same meaning. |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a></body></html> | |
| 1888. |
Debit balance in the Profit and Loss Account is a profit. Comment |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/debit-945425" style="font-weight:bold;" target="_blank" title="Click to know more about DEBIT">DEBIT</a> balance in 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> Account is a loss because expenses are more than <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a></body></html> | |
| 1889. |
Debit balance in the Cash Book is equivalent to |
| Answer» <html><body><p> <a href="https://interviewquestions.tuteehub.com/tag/overdraft-588599" style="font-weight:bold;" target="_blank" title="Click to know more about OVERDRAFT">OVERDRAFT</a> as <a href="https://interviewquestions.tuteehub.com/tag/per-590802" style="font-weight:bold;" target="_blank" title="Click to know more about PER">PER</a> Pass Book <br/>Credit <a href="https://interviewquestions.tuteehub.com/tag/balance-891682" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCE">BALANCE</a> as per Pass Book. <br/>Overdraft as per Cash Book <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> :Credit balance as per Pass Book.</body></html> | |
| 1890. |
Debit all expenses and losses and credit all incomes and gains is the rule of ________ Accounts. |
| Answer» <html><body><p><br/></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/nominal-571419" style="font-weight:bold;" target="_blank" title="Click to know more about NOMINAL">NOMINAL</a>.</body></html> | |
| 1891. |
Debit balance in Pass Book means overdraft. |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a></body></html> | |
| 1892. |
Data cannot be shared unless the computer are networked. |
| Answer» <html><body><p><br/></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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 1893. |
Current Liabilities include : |
| Answer» <html><body><p>Bills <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/>Creditors <br/>Outstanding Expenses <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> | |
| 1894. |
Current Liabilities do not include : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/bills-897480" style="font-weight:bold;" target="_blank" title="Click to know more about BILLS">BILLS</a> Payable<br/>Creditors <br/><a href="https://interviewquestions.tuteehub.com/tag/outstanding-1143197" style="font-weight:bold;" target="_blank" title="Click to know more about OUTSTANDING">OUTSTANDING</a> <a href="https://interviewquestions.tuteehub.com/tag/exp-979975" style="font-weight:bold;" target="_blank" title="Click to know more about EXP">EXP</a>. <br/>Debentures</p>Answer :D</body></html> | |
| 1895. |
Current assets of not include : |
| Answer» <html><body><p>Debtors <br/>Motor <a href="https://interviewquestions.tuteehub.com/tag/car-909011" style="font-weight:bold;" target="_blank" title="Click to know more about CAR">CAR</a> <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> Balance <br/>Prepaid 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> | |
| 1896. |
Current account shows ₹ 1,000 as overdrawn . Whenbank statement is received, itwas identified that oneof debors has deposited ₹ 400 into the account and bank charges of ₹ 20 had been debited to the account. Bank statement balance is |
| Answer» <html><body><p>₹ 1,420 (<a href="https://interviewquestions.tuteehub.com/tag/dr-959219" style="font-weight:bold;" target="_blank" title="Click to know more about DR">DR</a>.) <br/>₹ <a href="https://interviewquestions.tuteehub.com/tag/620-330348" style="font-weight:bold;" target="_blank" title="Click to know more about 620">620</a> (Dr.) <br/>₹ 4,300 (<a href="https://interviewquestions.tuteehub.com/tag/cr-427229" style="font-weight:bold;" target="_blank" title="Click to know more about CR">CR</a>.) <br/>₹ 1,700 (Dr.)</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> :N//A</body></html> | |
| 1897. |
Curent liabilities are such obligations which are to be satisfied |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/within-732414" style="font-weight:bold;" target="_blank" title="Click to know more about WITHIN">WITHIN</a> <a href="https://interviewquestions.tuteehub.com/tag/one-585732" style="font-weight:bold;" target="_blank" title="Click to know more about ONE">ONE</a> <a href="https://interviewquestions.tuteehub.com/tag/year-1464599" style="font-weight:bold;" target="_blank" title="Click to know more about YEAR">YEAR</a><br/>within <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> years<br/>within <a href="https://interviewquestions.tuteehub.com/tag/three-708969" style="font-weight:bold;" target="_blank" title="Click to know more about THREE">THREE</a> years<br/>None of these</p>Solution :within one year</body></html> | |
| 1898. |
Creditors on 1st April, 2018 were Rs. 15,000, Purchases on credit were Rs. 30,000, Cash paid to Creditors during 2018-19 was Rs. 20,000, Returns Outward (regarding credit purchases) were Rs. 1,000 and Bills Payable accepted during the year were Rs. 10,000. Find balance of Creditors on 31st March, 2019. |
| 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> :Creditors on <a href="https://interviewquestions.tuteehub.com/tag/31st-307147" style="font-weight:bold;" target="_blank" title="Click to know more about 31ST">31ST</a> <a href="https://interviewquestions.tuteehub.com/tag/march-554922" style="font-weight:bold;" target="_blank" title="Click to know more about MARCH">MARCH</a>, 2019 - <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 14,000.</body></html> | |
| 1899. |
Credit transactions are recorded in _______ proper |
| Answer» <html><body><p><br/></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/journal-1062252" style="font-weight:bold;" target="_blank" title="Click to know more about JOURNAL">JOURNAL</a></body></html> | |
| 1900. |
Credit sales is ascertained by preparing |
| Answer» <html><body><p>Total <a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a> Account<br/>Total Creditors 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> Account <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>Solution :Total Debtors Account</body></html> | |