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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.
| 2301. |
According to Convention of Conservation closing stock is valued at : |
| Answer» <html><body><p>At cost <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> <br/>At <a href="https://interviewquestions.tuteehub.com/tag/realisable-7708686" style="font-weight:bold;" target="_blank" title="Click to know more about REALISABLE">REALISABLE</a> value <br/>Cost price or realisable value whichever is <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> <br/>At Real value </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> :C</body></html> | |
| 2302. |
Acceptor of the bill is known as ________ |
| 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/drawee-959475" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWEE">DRAWEE</a></body></html> | |
| 2303. |
Aashirwad draws on Aakarshak a Bill of exchange for 3 months forRs 10,000 which Aakarshak accepts on January 01, 2016. Aashirwad endorses the bill in favour of Aakarti. Before maturity Aakarshak approaches Aashirwad with the request that the bill be renewed for a further period of 3 months at 18 per cent per annum interest. Aashirwad pays the sum to Aakriti on the due date and agrees to the proposal of Aakarshak. Record journal entries in the books of Aashirwad, assuming that the second bill is duly met. |
| 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_C08_S01_006_S01.png" width="80%"/></body></html> | |
| 2304. |
A withdrawal of cash from business by the proprietor is credited to |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/drawings-959513" style="font-weight:bold;" target="_blank" title="Click to know more about DRAWINGS">DRAWINGS</a> A/c.<br/>Capital A/c.<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> A/c.<br/>None of these.</p>Solution :Cash A/c.</body></html> | |
| 2305. |
A Wholesaler sold 55 items to a retailer at a price of Rs. 200 each, less 20% Trade Discount. The retailer subsequently returned 12 of these items. As a result of this, the retailer should be sent a credit note for how much amount? |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/wholesaler-1455370" style="font-weight:bold;" target="_blank" title="Click to know more about WHOLESALER">WHOLESALER</a> should senda <a href="https://interviewquestions.tuteehub.com/tag/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a> note for Rs. 1,920 to the retailer, being the amount of 12 <a href="https://interviewquestions.tuteehub.com/tag/items-1052972" style="font-weight:bold;" target="_blank" title="Click to know more about ITEMS">ITEMS</a> @ Rs. 200 after <a href="https://interviewquestions.tuteehub.com/tag/allowing-7260712" style="font-weight:bold;" target="_blank" title="Click to know more about ALLOWING">ALLOWING</a> 20% Trade Discount.</body></html> | |
| 2306. |
A Trial Balance will be in agreement when a transaction is recorded on the wrong side of an 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> | |
| 2307. |
A transaction is recorded correctly in Journal Proper have not posted in the ledger at all, will it affect the Trial Balance? Give reason. |
| Answer» <html><body><p></p>Solution :No. Reason: Such errors of <a href="https://interviewquestions.tuteehub.com/tag/posting-603386" style="font-weight:bold;" target="_blank" title="Click to know more about POSTING">POSTING</a> have the same effect on both the <a href="https://interviewquestions.tuteehub.com/tag/debit-945425" style="font-weight:bold;" target="_blank" title="Click to know more about DEBIT">DEBIT</a> 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> aspects of a transaction as posting has not been <a href="https://interviewquestions.tuteehub.com/tag/done-2591742" style="font-weight:bold;" target="_blank" title="Click to know more about DONE">DONE</a> in both the accounts.</body></html> | |
| 2308. |
A Trial Balance is |
| Answer» <html><body><p>a statement.<br/>a summary.<br/>an account.<br/>None of these.</p>Answer :A</body></html> | |
| 2309. |
A transaction is recorded in wrong book of original entry with wrong amount, will it affect the Trial Balance? Give reason. |
| 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. <a href="https://interviewquestions.tuteehub.com/tag/reason-620214" style="font-weight:bold;" target="_blank" title="Click to know more about REASON">REASON</a>: Error of <a href="https://interviewquestions.tuteehub.com/tag/recording-1180449" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDING">RECORDING</a> has the same effect on both the <a href="https://interviewquestions.tuteehub.com/tag/debit-945425" style="font-weight:bold;" target="_blank" title="Click to know more about DEBIT">DEBIT</a> and Credit aspects of 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> | |
| 2310. |
A transaction is entered into the computer only once and the remaining functions, such as posting and totalling are performed by the computers software. |
| 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> | |
| 2311. |
A trade entered into following transactions. As a result, total of Purchase Column in the Purchases Book will be : (i) Goods purchased from Gaurav Rs. 8,000 (ii) Goods Purchased from Sudhir for Cash Rs. 10,000 (iii) Goods purchased from Kamal on credit Rs. 25,000 (iv) Machinery purchased from Dinesh on credit Rs. 40,000 |
| 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>. 83,000<br/>RS. 73,000<br/>Rs. 33,000<br/>Rs. 25,000</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> | |
| 2312. |
A starts a business and invests ₹50,000 on 1st April, 2018, his assets are ₹65,000 and liabilities are ₹6,000. Find out the amcunt of capital on 31st March , 2019 and his profit. |
| 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) Capital₹ 59,000, <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> ₹ 9,000; (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)Profit ₹ 6,000 ; (<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>) Profit ₹ 12,000</body></html> | |
| 2313. |
A starts a business and invests ₹50,000 on 1st April, 2018, his assets are ₹65,000 and liabilities are ₹6,000. Find out the amcunt of capital on 31st March , 2019 and his profit. |
| 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) Capital₹ 59,000, <a href="https://interviewquestions.tuteehub.com/tag/profit-1168589" style="font-weight:bold;" target="_blank" title="Click to know more about PROFIT">PROFIT</a> ₹ 9,000; (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)Profit ₹ 6,000 ; (<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>) Profit ₹ 12,000</body></html> | |
| 2314. |
A statement of Affairs is prepared from incomplete records .Is it correct? |
| 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> It is <a href="https://interviewquestions.tuteehub.com/tag/prepare-604982" style="font-weight:bold;" target="_blank" title="Click to know more about PREPARE">PREPARE</a> <a href="https://interviewquestions.tuteehub.com/tag/dot-958484" style="font-weight:bold;" target="_blank" title="Click to know more about DOT">DOT</a> determine the opening or <a href="https://interviewquestions.tuteehub.com/tag/closing-919708" style="font-weight:bold;" target="_blank" title="Click to know more about CLOSING">CLOSING</a> capital</body></html> | |
| 2315. |
A specific reserve can be created for any purpose. |
| 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> | |
| 2316. |
A separate column is made for 'Credit Note No'. In |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/purchase-1172709" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASE">PURCHASE</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/>Sales Book<br/>Purchases <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 </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> | |
| 2317. |
A Rs. 10,000 debit balance brough down in the Cash Book of a firm means that the firm has Rs. 10,000 Cash is Hand. 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>. Dabit balance of Cash <a href="https://interviewquestions.tuteehub.com/tag/boot-901062" style="font-weight:bold;" target="_blank" title="Click to know more about BOOT">BOOT</a> <a href="https://interviewquestions.tuteehub.com/tag/brought-391152" style="font-weight:bold;" target="_blank" title="Click to know more about BROUGHT">BROUGHT</a> down is an asset of the firm. It means the firm has cash balance of Rs. 10,000 in hand.</body></html> | |
| 2318. |
A sale of goods to Ram for cash is debited to |
| Answer» <html><body><p>Ram.<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>.<br/>Sales.<br/>None of these.</p>Solution :Cash.</body></html> | |
| 2319. |
A retailer had not kept proper books of account. From the details given, yor are required to ascertain the Profit or Loss for the year ended 31st March , 2019 and also to prepare his Statement of Affairs as at that date: {:(,"1st April, 2018 (Rs.)","31st March, 2019 (Rs.)"),("Stock-in-hand","16,000","18,100"),("Sundry Creditors","15,400","19,200"),("Sundry Debtors","11,200","10,600"),("Cash in Hand","250","1,400"),("Bank Overdraft","19,200","Nil"),("Bills Receivable","16,000","5,000"),("Fixtures and Fittings","1,500","1,500"),("Motor Van","1,900","Nil"),("Bank Balance","Nil","2,900"):} Drawings during the year amounted to Rs. 2,400. Depreciate Fixtures and Fittings by 10%. Rs. 600 is irrecoverable from Debtors, Provide 5% for Doubtful Debts and Rs. 200 in respect of Bills Receivable. |
| 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/TSG_ACC_XI_C20_S01_007_S01.png" width="80%"/> <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TSG_ACC_XI_C20_S01_007_S02.png" width="80%"/></body></html> | |
| 2320. |
A provision is a ______ against profits. |
| 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/charge-914384" style="font-weight:bold;" target="_blank" title="Click to know more about CHARGE">CHARGE</a></body></html> | |
| 2321. |
A Provision is |
| Answer» <html><body><p>an <a href="https://interviewquestions.tuteehub.com/tag/appropriation-882828" style="font-weight:bold;" target="_blank" title="Click to know more about APPROPRIATION">APPROPRIATION</a> of profits.<br/>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.<br/>Can be (a) or (<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>Answer :B</body></html> | |
| 2322. |
A purchase of machine for cash should 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> account<br/> <a href="https://interviewquestions.tuteehub.com/tag/machine-550312" style="font-weight:bold;" target="_blank" title="Click to know more about MACHINE">MACHINE</a> account <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> account <br/> None of these<br/></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a></body></html> | |
| 2323. |
A Promissory note is made by the _________ |
| 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/purchaser-1172769" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASER">PURCHASER</a></body></html> | |
| 2324. |
A provision can be specific or general. Do you agree ? |
| Answer» <html><body><p></p>Solution :A Provision can be <a href="https://interviewquestions.tuteehub.com/tag/specific-1220917" style="font-weight:bold;" target="_blank" title="Click to know more about SPECIFIC">SPECIFIC</a>, e.g.,provision against a particular debtor or <a href="https://interviewquestions.tuteehub.com/tag/general-471730" style="font-weight:bold;" target="_blank" title="Click to know more about GENERAL">GENERAL</a>, e.g., expressed as a percentage of <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</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>.</body></html> | |
| 2325. |
A promissory note is drawn by_____in favour of his___. |
| 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/promissor-8153824" style="font-weight:bold;" target="_blank" title="Click to know more about PROMISSOR">PROMISSOR</a></body></html> | |
| 2326. |
A promissory Note, dated 31st March , 2018 payable 90 days after date. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/90-341351" style="font-weight:bold;" target="_blank" title="Click to know more about 90">90</a> days from 31st <a href="https://interviewquestions.tuteehub.com/tag/march-554922" style="font-weight:bold;" target="_blank" title="Click to know more about MARCH">MARCH</a>, <a href="https://interviewquestions.tuteehub.com/tag/2018-2846" style="font-weight:bold;" target="_blank" title="Click to know more about 2018">2018</a> is 29th june, as calculated below : <br/> 30 (April) + <a href="https://interviewquestions.tuteehub.com/tag/31-306830" style="font-weight:bold;" target="_blank" title="Click to know more about 31">31</a> ( may) + 29 (June)=90 days.<br/> Adding 3 days of Grace, the promissory Notebecomes due on <a href="https://interviewquestions.tuteehub.com/tag/2nd-300843" style="font-weight:bold;" target="_blank" title="Click to know more about 2ND">2ND</a> july, 2018.</body></html> | |
| 2327. |
A promissoryNote is made by the …. |
| Answer» <html><body><p>seller<br/>purchaser <br/><a href="https://interviewquestions.tuteehub.com/tag/endorse-446053" style="font-weight:bold;" target="_blank" title="Click to know more about ENDORSE">ENDORSE</a><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> :endorse</body></html> | |
| 2328. |
A debtor who owes ₹ two lac to the Company is rumoured to be declared insolvent. Will you disclose this information in the books? |
| 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>. As per convention of conservation, all <a href="https://interviewquestions.tuteehub.com/tag/anticipated-878625" style="font-weight:bold;" target="_blank" title="Click to know more about ANTICIPATED">ANTICIPATED</a> losses should berecorded. But all anticipated <a href="https://interviewquestions.tuteehub.com/tag/gains-1003231" style="font-weight:bold;" target="_blank" title="Click to know more about GAINS">GAINS</a> should be ignored. Hence, provision for doubtful debts should be created in anticipation of <a href="https://interviewquestions.tuteehub.com/tag/actual-361632" style="font-weight:bold;" target="_blank" title="Click to know more about ACTUAL">ACTUAL</a> <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.</body></html> | |
| 2329. |
A 4 months bill drawn on 1st January , 2019 will mature for payment on |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/3rd-311114" style="font-weight:bold;" target="_blank" title="Click to know more about 3RD">3RD</a> <a href="https://interviewquestions.tuteehub.com/tag/may-557248" style="font-weight:bold;" target="_blank" title="Click to know more about MAY">MAY</a>, <a href="https://interviewquestions.tuteehub.com/tag/2019-2847" style="font-weight:bold;" target="_blank" title="Click to know more about 2019">2019</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/4th-319068" style="font-weight:bold;" target="_blank" title="Click to know more about 4TH">4TH</a> may 2019<br/>5th May 2019<br/>10th May , 2019</p>Solution :4th may 2019</body></html> | |
| 2330. |
A Ledger is called a book of final entry. |
| 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> | |
| 2331. |
A bill of exchange is a _________instrument. |
| 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/promisee-1169582" style="font-weight:bold;" target="_blank" title="Click to know more about PROMISEE">PROMISEE</a></body></html> | |
| 2332. |
________ Discount is not reduced from the invoice price. |
| 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/cash-910172" style="font-weight:bold;" target="_blank" title="Click to know more about CASH">CASH</a></body></html> | |
| 2333. |
A limited company cannot maintain its accounts under Single Entry System. Why? |
| Answer» <html><body><p></p>Solution :A limited company cannot <a href="https://interviewquestions.tuteehub.com/tag/maintain-1084096" style="font-weight:bold;" target="_blank" title="Click to know more about MAINTAIN">MAINTAIN</a> its accounts under this system because the <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>, 2013 requires companies to <a href="https://interviewquestions.tuteehub.com/tag/follow-994211" style="font-weight:bold;" target="_blank" title="Click to know more about FOLLOW">FOLLOW</a> accrual basis of accounts.</body></html> | |
| 2334. |
A Machinery which costs ₹ 2,00,000 is depreciated at 25% per year using the Written Down Value Method. At the end of three years, it will have a net book value of |
| Answer» <html><body><p>₹ 1,50,000<br/>₹ 84,375<br/>₹ 1,12,500<br/>₹ 1,00,000</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> | |
| 2335. |
A liability arises because 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/credit-938523" style="font-weight:bold;" target="_blank" title="Click to know more about CREDIT">CREDIT</a></body></html> | |
| 2336. |
A firm earns a revenue of Rs 21,000 and the expenses to earn this revenue are Rs 15,000. Calculate its income |
| 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/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a> = <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/expense-980253" style="font-weight:bold;" target="_blank" title="Click to know more about EXPENSE">EXPENSE</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> 21,000 - Rs 15,000 = Rs 6,000</body></html> | |
| 2337. |
A contral entry is one which does not require posting to the ledger . |
| 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/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a></body></html> | |
| 2338. |
A firm sells goods at a Gross Profit of 25% of sales. On 1st April, 2018 the Stock was Rs. 40,000, Purchases were Rs. 1,10,000 and the Stock on 31st March, 2019 was Rs. 30,000. What was the value of Sales? |
| 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/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 1,60,000.</body></html> | |
| 2339. |
A bank reconciliation statement is prepared with the balance: |
| Answer» <html><body><p>) <a href="https://interviewquestions.tuteehub.com/tag/passbook-596985" style="font-weight:bold;" target="_blank" title="Click to know more about PASSBOOK">PASSBOOK</a> <br/> 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/>Both passbook and cash book <br/>None of these <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/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 2340. |
(a) Goods destroyed by fire will be recorded in which of the following books? (i) Purchases Books,(ii) Saler Book,(iii) Journal. (b) 'Sen sent a Credit Note to Amar on account of goods sold received back. This transaction will be recorded in which of the following books ? (i) Sales Books,(ii) Sales Return Book,(iii) Purchases Return 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) (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</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>) <a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>).</body></html> | |
| 2341. |
(a) Mohan started a business on 1st Aprili 2018 with a capital of ₹10,000 and borrowed₹ 3,000 from a friend. He earned a profit of ₹5,000 during the year ended 31st March, 2019 and withdrew cash₹4,000 for personal use. What is his capital on 31st March, 2019? Mahesh started a'business with a capital of ₹15,000 on 1st April, 2018. During the year, he made a profit of ₹3,000. He owes₹2,500 to suppliers of goods. What is the total of assets in his business 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> :₹25,000</body></html> | |
| 2342. |
A person who is not in a position to pay his debt is known as insolvent. |
| 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> | |
| 2343. |
A cheque received but not deposited the same day into bank, is entered in |
| 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/column-922494" style="font-weight:bold;" target="_blank" title="Click to know more about COLUMN">COLUMN</a> on the debit side<br/>Bank Column on the debit side<br/>Cash column on the credit side <br/><a href="https://interviewquestions.tuteehub.com/tag/journal-1062252" style="font-weight:bold;" target="_blank" title="Click to know more about JOURNAL">JOURNAL</a> Proper. </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> | |
| 2344. |
(a)A hada capital of ₹ 75,000 on 1st April , 2018. He had also goods amounting to₹ 15,000 which he had purchased on credit and the payment had not been made. Findout thevalue to the totalassetsof the business. (b) After a period of onemonth, he came to know that thehe hadsufferedaloss₹ 1,700. Hewithdrew ₹ 800 for his personal use . Find out this capitaland assets of thebusiness. |
| 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/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> ₹ 72,500 ; <a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> ₹ 87,500</body></html> | |
| 2345. |
________ Discount is allowed to encourage large purchases. |
| 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/trade-711631" style="font-weight:bold;" target="_blank" title="Click to know more about TRADE">TRADE</a></body></html> | |
| 2346. |
A cheque of ₹ 10,000 receivedfrom a debtordeposited but omitted to be reacorded in the cash book . When balance as per cash book is the starting point |
| Answer» <html><body><p>₹ 10,000 to 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 to be <a href="https://interviewquestions.tuteehub.com/tag/subtracted-2258353" style="font-weight:bold;" target="_blank" title="Click to know more about SUBTRACTED">SUBTRACTED</a>. <br/>No adjustmentis <a href="https://interviewquestions.tuteehub.com/tag/required-1185621" style="font-weight:bold;" target="_blank" title="Click to know more about REQUIRED">REQUIRED</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> :₹ 10,000 to be added</body></html> | |
| 2347. |
A business firm periodically prepares a bank reconciliation statement to reconcile the bank balance as per the cash book with the passbook as these two show different balances for various 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> :T</body></html> | |
| 2348. |
A cheque receivedand deposited into bank the same day will be recorded in cash book in |
| Answer» <html><body><p>Cash <a href="https://interviewquestions.tuteehub.com/tag/column-922494" style="font-weight:bold;" target="_blank" title="Click to know more about COLUMN">COLUMN</a> on <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/side-1206832" style="font-weight:bold;" target="_blank" title="Click to know more about SIDE">SIDE</a> <br/>Cash column 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> side <br/>Bank column on debit side <br/> Bank column on credit side </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> :C</body></html> | |
| 2349. |
……. Is not a subsidiary book |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/purchase-1172709" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASE">PURCHASE</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> <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/>Purchase Book<br/>Ledger<br/>Sales Book</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> | |
| 2350. |
(a)A hada capital of ₹ 75,000 on 1st April , 2018. He had also goods amounting to₹ 15,000 which he had purchased on credit and the payment had not been made. Findout thevalue to the totalassetsof the business. (b) After a period of onemonth, he came to know that thehe hadsufferedaloss₹ 1,700. Hewithdrew ₹ 800 for his personal use . Find out this capitaland assets of thebusiness. |
| 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/capital-908677" style="font-weight:bold;" target="_blank" title="Click to know more about CAPITAL">CAPITAL</a> ₹ 72,500 ; <a href="https://interviewquestions.tuteehub.com/tag/assets-885948" style="font-weight:bold;" target="_blank" title="Click to know more about ASSETS">ASSETS</a> ₹ 87,500</body></html> | |