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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.
| 2101. |
Briefly explain Intangible Assets |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/intangible-499512" style="font-weight:bold;" target="_blank" title="Click to know more about INTANGIBLE">INTANGIBLE</a> Assets are the assets which do not have a <a href="https://interviewquestions.tuteehub.com/tag/physical-600035" style="font-weight:bold;" target="_blank" title="Click to know more about PHYSICAL">PHYSICAL</a> <a href="https://interviewquestions.tuteehub.com/tag/existence-979496" style="font-weight:bold;" target="_blank" title="Click to know more about EXISTENCE">EXISTENCE</a>, i.e., they cannot be <a href="https://interviewquestions.tuteehub.com/tag/seen-3017120" style="font-weight:bold;" target="_blank" title="Click to know more about SEEN">SEEN</a> or touched such as Computer <a href="https://interviewquestions.tuteehub.com/tag/software-25575" style="font-weight:bold;" target="_blank" title="Click to know more about SOFTWARE">SOFTWARE</a> and Goodwill</body></html> | |
| 2102. |
Briefly explain Credit Voucher. |
| Answer» <html><body><p></p>Solution :Credit <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 <a href="https://interviewquestions.tuteehub.com/tag/prepared-1163605" style="font-weight:bold;" target="_blank" title="Click to know more about PREPARED">PREPARED</a> when <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> is <a href="https://interviewquestions.tuteehub.com/tag/received-1179289" style="font-weight:bold;" target="_blank" title="Click to know more about RECEIVED">RECEIVED</a>.</body></html> | |
| 2103. |
Brieflyexplain Cash Voucher. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> Voucher is <a href="https://interviewquestions.tuteehub.com/tag/prepared-1163605" style="font-weight:bold;" target="_blank" title="Click to know more about PREPARED">PREPARED</a> at the <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a> of receipt or payment of cash or cheque.</body></html> | |
| 2104. |
Books of Account are written on the basis of |
| Answer» <html><body><p>Source <a href="https://interviewquestions.tuteehub.com/tag/document-432702" style="font-weight:bold;" target="_blank" title="Click to know more about DOCUMENT">DOCUMENT</a>. <br/><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/vouchers-1448333" style="font-weight:bold;" target="_blank" title="Click to know more about VOUCHERS">VOUCHERS</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>Solution :Accounting Vouchers.</body></html> | |
| 2105. |
Books maintained by the Single Entry System are not as reliable as they are when maintained following the Double Entry System. 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> :Double <a href="https://interviewquestions.tuteehub.com/tag/entry-972873" style="font-weight:bold;" target="_blank" title="Click to know more about ENTRY">ENTRY</a> System of accounting records both aspects of a transaction. Thus, it provides <a href="https://interviewquestions.tuteehub.com/tag/accurate-847229" style="font-weight:bold;" target="_blank" title="Click to know more about ACCURATE">ACCURATE</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> as to <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a>, liabilities,</body></html> | |
| 2106. |
Book Keeping is not a part of accounting. Do you agree with the statement? |
| Answer» <html><body><p></p>Solution :No. Book Keeping is a <a href="https://interviewquestions.tuteehub.com/tag/part-596478" style="font-weight:bold;" target="_blank" title="Click to know more about PART">PART</a> of accounting. Twoo processes of accounting, i.e., collecting and <a href="https://interviewquestions.tuteehub.com/tag/recording-1180449" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDING">RECORDING</a> of financial <a href="https://interviewquestions.tuteehub.com/tag/transactions-18175" style="font-weight:bold;" target="_blank" title="Click to know more about TRANSACTIONS">TRANSACTIONS</a> and <a href="https://interviewquestions.tuteehub.com/tag/events-11766" style="font-weight:bold;" target="_blank" title="Click to know more about EVENTS">EVENTS</a> are the processes of Book Keeping.</body></html> | |
| 2107. |
Books Account are written on the basis of |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/source-1219297" style="font-weight:bold;" target="_blank" title="Click to know more about SOURCE">SOURCE</a> <a href="https://interviewquestions.tuteehub.com/tag/document-432702" style="font-weight:bold;" target="_blank" title="Click to know more about DOCUMENT">DOCUMENT</a> <br/>Accounting Vouchers<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>Solution :Accounting Vouchers</body></html> | |
| 2108. |
Book-keeping is mainly concerned with : |
| 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> of <a href="https://interviewquestions.tuteehub.com/tag/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a> data<br/>Designing the systems of <a href="https://interviewquestions.tuteehub.com/tag/summarising-655620" style="font-weight:bold;" target="_blank" title="Click to know more about SUMMARISING">SUMMARISING</a> the <a href="https://interviewquestions.tuteehub.com/tag/recorded-2240050" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDED">RECORDED</a> data<br/>Interpreting the data for <a href="https://interviewquestions.tuteehub.com/tag/internal-517481" style="font-weight:bold;" target="_blank" title="Click to know more about INTERNAL">INTERNAL</a> and external users<br/>Preparation of financial statements of the business enterprise</p>Answer :A</body></html> | |
| 2109. |
Book Keeping is concerned with |
| Answer» <html><body><p>recording <a href="https://interviewquestions.tuteehub.com/tag/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a> data <a href="https://interviewquestions.tuteehub.com/tag/relating-7708583" style="font-weight:bold;" target="_blank" title="Click to know more about RELATING">RELATING</a> to <a href="https://interviewquestions.tuteehub.com/tag/business-21797" style="font-weight:bold;" target="_blank" title="Click to know more about BUSINESS">BUSINESS</a> transactions.<br/>designing of system recording, classifying, and <a href="https://interviewquestions.tuteehub.com/tag/summarizing-1234446" style="font-weight:bold;" target="_blank" title="Click to know more about SUMMARIZING">SUMMARIZING</a> recorded data.<br/>interpreting data for internal and external users<br/>All of the above.</p>Solution :recording financial data relating to business transactions.</body></html> | |
| 2110. |
Book Keeping is a systematic record of _______ transactions. |
| 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/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a></body></html> | |
| 2111. |
Bills Receivable endorsed dishonoured are debited to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/debtors-435558" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTORS">DEBTORS</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a>.<br/>Bills <a href="https://interviewquestions.tuteehub.com/tag/receivable-1179274" style="font-weight:bold;" target="_blank" title="Click to know more about RECEIVABLE">RECEIVABLE</a> Account.<br/>Creditors Account.<br/>Bank Account.</p>Solution :Debtors Account.</body></html> | |
| 2112. |
Bills Receivable Account is |
| Answer» <html><body><p>an Asset <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> <br/>an Expense Account <br/>a Liability Accounts<br/>an <a href="https://interviewquestions.tuteehub.com/tag/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a> Account . </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> :an Asset Account</body></html> | |
| 2113. |
Book Keeping and Accounting |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> same and are used interchangeably.<br/>does not mean same and are not used interchangeably.<br/>means 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 the above.</p>Solution :does not mean same and are not used interchangeably.</body></html> | |
| 2114. |
Bills Payable honoured during the year will be debited to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a>.<br/><a href="https://interviewquestions.tuteehub.com/tag/bills-897480" style="font-weight:bold;" target="_blank" title="Click to know more about BILLS">BILLS</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> Account.<br/>Creditors Account.<br/>None of these.</p>Solution :Bills Payable Account.</body></html> | |
| 2115. |
Bill of Exchange is drawn by the drawer and accepted by the drawee. |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2116. |
Bills Payable Account is |
| Answer» <html><body><p>an Asset Account <br/>an Expense Account <br/>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> <a href="https://interviewquestions.tuteehub.com/tag/accounts-14064" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNTS">ACCOUNTS</a><br/>an <a href="https://interviewquestions.tuteehub.com/tag/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a> Account . </p>Solution :a Liability Accounts</body></html> | |
| 2117. |
Bhuvan's Trial Balance has following entries, besides other: Bad Debts Rs. 1,000, Provision for Doubtful Debts Rs. 1,500. Provision for Doubtful Debts of Rs. 2,000 should be at the end of the year. The amount to be debited to the Profit & Loss Account will be |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 4,500 <br/>Rs. 5,000<br/>Rs. 1,500<br/>Rs. 3,500</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> | |
| 2118. |
Bill of exchange is drawn by a debtor .Do you agree? |
| Answer» <html><body><p></p>Solution :No Bill of Exchange is <a href="https://interviewquestions.tuteehub.com/tag/drawn-2062388" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWN">DRAWN</a> by the credit (<a href="https://interviewquestions.tuteehub.com/tag/supplier-1235225" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIER">SUPPLIER</a>) and accepted by the <a href="https://interviewquestions.tuteehub.com/tag/debtor-945512" style="font-weight:bold;" target="_blank" title="Click to know more about DEBTOR">DEBTOR</a> (<a href="https://interviewquestions.tuteehub.com/tag/buyer-906424" style="font-weight:bold;" target="_blank" title="Click to know more about BUYER">BUYER</a>).</body></html> | |
| 2119. |
Bill of exchange cannot be endorsed. |
| 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> | |
| 2120. |
Berlia Ltd. Purchased a second hand machine for Rs. 56,000 on July 01,2015 and spent Rs. 24, 000 on its repair and installatio and Rs. 5,000 for its carriage. On September 01, 2016, it purchased another machineRs. 2,50,000 and spent Rs. 10,000 on its installation. (a) Depreciation is provided on machinery @10% p.a on original cost method annually on December 31. Prepare machinery account and depreciation account from the year 2015 to 2018. (b) Prepare machinery account and depreciation account from the year 2011 to 2018, if depreciation is provided on machinery @10% p.a. on written down value method annually on December 31. |
| 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) <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 <a href="https://interviewquestions.tuteehub.com/tag/machine-550312" style="font-weight:bold;" target="_blank" title="Click to know more about MACHINE">MACHINE</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> as on 1.01.19 `Rs.` 2,54,583. <br/> (b)Balance of Machine account as on `01.0119 `Rs.` 2 2,62,448</body></html> | |
| 2121. |
Basic function of financial accounting is to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/record-1180336" style="font-weight:bold;" target="_blank" title="Click to know more about RECORD">RECORD</a> all <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/transactions-18175" style="font-weight:bold;" target="_blank" title="Click to know more about TRANSACTIONS">TRANSACTIONS</a>.<br/>interpret <a href="https://interviewquestions.tuteehub.com/tag/financial-988642" style="font-weight:bold;" target="_blank" title="Click to know more about FINANCIAL">FINANCIAL</a> data.<br/>assist the management.<br/>None of these.</p>Solution :record all business transactions.</body></html> | |
| 2122. |
Bank Reconciliation statement Jogindeer Sharma works as an accountant in Ragav International . His responsibilities are maintaining and recording the day to day transactions of the firm's and preparing the Bank Reconciliation Statement at the end of the month. The firm's cash book for July 2018 which Joginder has just finished entering and balancing for the month end is shown below.( Note : For the sake of clarity the cash column has beenomitted.) A copy of firm's bank statement from the Axis Bank Ltd. has just been received for July and is also given below. You are required toprepare corrected Cash Book and also Bank Reconciliation Statement as on 31st July, 2018. |
| Answer» <html><body><p></p>Solution :Bank Pass Book is reconciled with the Cash Book in following four <a href="https://interviewquestions.tuteehub.com/tag/steps-1227441" style="font-weight:bold;" target="_blank" title="Click to know more about STEPS">STEPS</a>. <br/> Step 1: Tick the items in both Cash Book and Bank Statement <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_PW_S01_004_S01.png" width="80%"/> <br/> Step 2: Update the Cash Book from the Bank Statement <br/> The unticked item on the bank statement indicate items that have gone through the Bank Account but have not yet been recorded n Ragav International Cash Book. These are : <br/> `{:("Receipt","July 02","Refund from Whois. com","₹ 1,403"),("Receipts","July <a href="https://interviewquestions.tuteehub.com/tag/05-256274" style="font-weight:bold;" target="_blank" title="Click to know more about 05">05</a>","Refund of Unsuccess recharge from ICONNECT"," ₹ 98"),("Payment","July 28","Service Tax Charge","₹ 25"),("Payment","July 28","Other Bank Charges","₹ 200"):}` <br/> Joginder will have to record these transactions in the cash book to bring it up to date. The new entries are shown in Bold type, the previous entries are in normal type. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_PW_S01_004_S02.png" width="80%"/> <br/> The balance of he bank Column now stands at ₹ 48,508. This still differs from the bank statement balance of ₹ 36,080. <br/> The numerical <a href="https://interviewquestions.tuteehub.com/tag/difference-951394" style="font-weight:bold;" target="_blank" title="Click to know more about DIFFERENCE">DIFFERENCE</a> between the two is : <br/> Bank Statement ₹ 36,080 (Cr.) minus cash book ₹ 48,508 (Dr.)= ₹12,428(Cr.) <br/> This remaining difference is dealt with in theBank Reconciliation Statements. <br/> Step 3: Identify the remaining unticked items from the Cash Book. These are :<br/> `{:("Payments","July <a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a>","Vikash Ltd.","₹1,447",|,"Payments","July 31","Ashutosh & Co.","₹5,000"),("Payments","July 15","Raj Distributors","₹735",|,"Payments","July 31","Orpat Insturment","₹10,000"),("Payments","July 15","City Automation Pvt. Ltd.","₹3,150",|,"Payments","July 31","Perfect Stores","₹15,000"),("Payments","July 15","Vipul Tiwari","₹1,120",|,"Receipts","July 29","Ramesh & Co.","₹40,000"),("Payments","July 10","Sky Venture","₹1,120",|,"Receipts","July 31","Dhingra & Co.","₹10,000"):}` <br/> These items should appear on next month's bank statement as they are because of timing differences. The above transactions are item which will be required to be shown in the Bank Reconciliation Statement. <br/> Step 4: Preparation of the Bank Reconciliation Statement.<br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_PW_S01_004_S03.png" width="80%"/></body></html> | |
| 2123. |
Basaria Confectioner bought a cold storage plant on July 01, 2014 for Rs. 1,00,000. Compare the amount of depreciation charged for first three years using: Rate of depreciation @ 10% on original cost basis, |
| Answer» <html><body><p></p>Solution :Depreciation for 1 <a href="https://interviewquestions.tuteehub.com/tag/year-1464599" style="font-weight:bold;" target="_blank" title="Click to know more about YEAR">YEAR</a> (2014-15) = `Rs.` <a href="https://interviewquestions.tuteehub.com/tag/7500-335415" style="font-weight:bold;" target="_blank" title="Click to know more about 7500">7500</a> (<a href="https://interviewquestions.tuteehub.com/tag/charged-7263949" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGED">CHARGED</a> for <a href="https://interviewquestions.tuteehub.com/tag/9-340408" style="font-weight:bold;" target="_blank" title="Click to know more about 9">9</a> months)</body></html> | |
| 2124. |
Basic function of accounting is |
| Answer» <html><body><p>to <a href="https://interviewquestions.tuteehub.com/tag/record-1180336" style="font-weight:bold;" target="_blank" title="Click to know more about RECORD">RECORD</a> all <a href="https://interviewquestions.tuteehub.com/tag/business-21797" style="font-weight:bold;" target="_blank" title="Click to know more about BUSINESS">BUSINESS</a> transactions. <br/>to <a href="https://interviewquestions.tuteehub.com/tag/interpret-1049714" style="font-weight:bold;" target="_blank" title="Click to know more about INTERPRET">INTERPRET</a> financial data.<br/>to <a href="https://interviewquestions.tuteehub.com/tag/assist-364272" style="font-weight:bold;" target="_blank" title="Click to know more about ASSIST">ASSIST</a> the management in performing functions effectively. <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 :to record all business transactions.</body></html> | |
| 2125. |
Based on data given in question number 2 record journal entries and prepare Machine account, Depreciation account and Provision for Depreciation account for the first 3 years if provision for depreciation account is maintained by the firm. |
| 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> :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/NCERT_ACC_XI_P1_C07_S01_003_S01.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/NCERT_ACC_XI_P1_C07_S01_003_S02.png" width="80%"/></body></html> | |
| 2126. |
Bank Reconciliation Statement may be prepared at any time of the accouting period. |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2127. |
Bank Reconciliation Statement is prepared at the end of the accounting year only. |
| 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> | |
| 2128. |
Bank Reconciliation Statement is prepared by the account holder and not by the bank . |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2129. |
Bank Reconciliation Statement is prepared by matching |
| Answer» <html><body><p>entries in Pass <a href="https://interviewquestions.tuteehub.com/tag/book-900767" style="font-weight:bold;" target="_blank" title="Click to know more about BOOK">BOOK</a> with entries in <a href="https://interviewquestions.tuteehub.com/tag/bank-13461" style="font-weight:bold;" target="_blank" title="Click to know more about BANK">BANK</a> columns of <a href="https://interviewquestions.tuteehub.com/tag/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a> Book. <br/>entries in Pass Book with entries in bank columns Cash Book. <br/>entries in Pass Book with entries in bank columnsand cash columns of Cash Book. <br/>None of the abvoe </p>Solution :entries in Pass Book with entries in bank columns of Cash Book.</body></html> | |
| 2130. |
Bank Reconciliation Statement is prepared so that the difference between the undermentioned balaces can be recociled : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/difference-951394" style="font-weight:bold;" target="_blank" title="Click to know more about DIFFERENCE">DIFFERENCE</a> in thebalance in the bank and the cash balance. <br/>Difference in thebalance in <a href="https://interviewquestions.tuteehub.com/tag/thepass-3201931" style="font-weight:bold;" target="_blank" title="Click to know more about THEPASS">THEPASS</a> Book in <a href="https://interviewquestions.tuteehub.com/tag/thebeginning-1403274" style="font-weight:bold;" target="_blank" title="Click to know more about THEBEGINNING">THEBEGINNING</a> and atthe end <br/> Difference in thePass Book and Cash Book <a href="https://interviewquestions.tuteehub.com/tag/balances-891822" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCES">BALANCES</a>.<br/> None of the above</p>Solution : Difference in thePass Book and Cash Book balances.</body></html> | |
| 2131. |
Bank Reconciliation Statement is prepared. |
| Answer» <html><body><p> to know payments made through <a href="https://interviewquestions.tuteehub.com/tag/cheques-915112" style="font-weight:bold;" target="_blank" title="Click to know more about CHEQUES">CHEQUES</a>. <br/>to know he errors in the <a href="https://interviewquestions.tuteehub.com/tag/pass-1148402" style="font-weight:bold;" target="_blank" title="Click to know more about PASS">PASS</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> <br/>to compare the Cash Book with Pass Book and ascertain the differences <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 :to compare the Cash Book with Pass Book and ascertain the differences</body></html> | |
| 2132. |
Bank Reconciliation Statement is a part of Cash Book |
| 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> | |
| 2133. |
Bank Reconciliation Statement brings out the reasons for difference in the Pass Book and Cash Book balances. |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2134. |
Bank Reconciliation Statement is a part of Bank 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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 2135. |
Bank Reconcilation Statement is prepared by |
| 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/>Debtors.<br/>Bank <br/><a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> <a href="https://interviewquestions.tuteehub.com/tag/holder-1028322" style="font-weight:bold;" target="_blank" title="Click to know more about HOLDER">HOLDER</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> :Account holder</body></html> | |
| 2136. |
Bank Reconceiliation Statement is |
| Answer» <html><body><p>a part of <a href="https://interviewquestions.tuteehub.com/tag/double-441870" style="font-weight:bold;" target="_blank" title="Click to know more about DOUBLE">DOUBLE</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> <a href="https://interviewquestions.tuteehub.com/tag/system-1237255" style="font-weight:bold;" target="_blank" title="Click to know more about SYSTEM">SYSTEM</a>. <br/> not a part of Double Entry System. <br/> part of BankStatement <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 : not a part of Double Entry System.</body></html> | |
| 2137. |
Bank Recnciliation Statement is prepared |
| Answer» <html><body><p> at the end of each <a href="https://interviewquestions.tuteehub.com/tag/week-1451206" style="font-weight:bold;" target="_blank" title="Click to know more about WEEK">WEEK</a> <br/>at the of each of month <br/> at the end of the <a href="https://interviewquestions.tuteehub.com/tag/accounting-637" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNTING">ACCOUNTING</a> year. <br/>whenever a bank <a href="https://interviewquestions.tuteehub.com/tag/statementis-1225797" style="font-weight:bold;" target="_blank" title="Click to know more about STATEMENTIS">STATEMENTIS</a> received </p>Solution :whenever a bank statementis received</body></html> | |
| 2138. |
Bank overdraft is a Liability while bank balance is anAsset. Do you agree? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/yes-749457" style="font-weight:bold;" target="_blank" title="Click to know more about YES">YES</a>. Bank overdraft 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> payable by the bank since the amount <a href="https://interviewquestions.tuteehub.com/tag/drawn-2062388" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWN">DRAWN</a> is more than the balance held. Bank balance is the amount owned by the firm that is <a href="https://interviewquestions.tuteehub.com/tag/lying-1081801" style="font-weight:bold;" target="_blank" title="Click to know more about LYING">LYING</a> deposited in the bank, thus, it is an asset.</body></html> | |
| 2139. |
Bank-Overdraft is a _________ 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/current-940804" style="font-weight:bold;" target="_blank" title="Click to know more about CURRENT">CURRENT</a></body></html> | |
| 2140. |
Bank overdraft is |
| Answer» <html><body><p>short-term <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/>long-term liability<br/>contingent liability<br/>None of these</p>Solution :short-term liability</body></html> | |
| 2141. |
Bank overdraft in Cash Book means __________ 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/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a></body></html> | |
| 2142. |
Bank Column of Cash Book may have _______ or _________ 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>, <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a></body></html> | |
| 2143. |
Bank column in the Cash Book can have either debit balance or credit balance. Why? |
| 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> :Bank <a href="https://interviewquestions.tuteehub.com/tag/column-922494" style="font-weight:bold;" target="_blank" title="Click to know more about COLUMN">COLUMN</a> in the Cash Book <a href="https://interviewquestions.tuteehub.com/tag/represents-1185452" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENTS">REPRESENTS</a> Bank Account. Bank Account will have a 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> if it is overdrawn and will <a href="https://interviewquestions.tuteehub.com/tag/otherwise-2208214" style="font-weight:bold;" target="_blank" title="Click to know more about OTHERWISE">OTHERWISE</a> have a debit balance.</body></html> | |
| 2144. |
Bank charges ₹5,000 debited twice in pass book. What should be done in BRS if overdraft as per cash book is starting point ? |
| Answer» <html><body><p>₹5,000 <a href="https://interviewquestions.tuteehub.com/tag/must-2185568" style="font-weight:bold;" target="_blank" title="Click to know more about MUST">MUST</a> be <a href="https://interviewquestions.tuteehub.com/tag/deducted-7288075" style="font-weight:bold;" target="_blank" title="Click to know more about DEDUCTED">DEDUCTED</a> <br/>₹5,000 must be <a href="https://interviewquestions.tuteehub.com/tag/added-367625" style="font-weight:bold;" target="_blank" title="Click to know more about ADDED">ADDED</a> <br/>₹10,000 must be deducted <br/>₹10,000 must be added </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/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 2145. |
Bank Column in Cash Book may show Credit 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2146. |
Bank balance as per Bank Statement is shown in the Balance Sheet at the end of the year. |
| 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> | |
| 2147. |
Bank Balance in Cash Book means _________ 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> | |
| 2148. |
Bank Account may be _________ Account or __________ 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/asset-885901" style="font-weight:bold;" target="_blank" title="Click to know more about ASSET">ASSET</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></body></html> | |
| 2149. |
Bank Account is a real account . |
| 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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a></body></html> | |
| 2150. |
Bank account is a |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> <a href="https://interviewquestions.tuteehub.com/tag/account-25640" style="font-weight:bold;" target="_blank" title="Click to know more about ACCOUNT">ACCOUNT</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/real-1178490" style="font-weight:bold;" target="_blank" title="Click to know more about REAL">REAL</a> Account <br/><a href="https://interviewquestions.tuteehub.com/tag/nominal-571419" style="font-weight:bold;" target="_blank" title="Click to know more about NOMINAL">NOMINAL</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 :Personal Account</body></html> | |