Explore topic-wise InterviewSolutions in Current Affairs.

1. It is free and open source accounting software. 

2. It is based on double entry book keeping. 

3. All financial reports can be prepared. 

4. Display of dual ledger facility. 

5. Attachment of source document to vouchers is possible. 

6. Linking of sales ad purchases transactions to invoice. 

7. Export or import of data from spread sheet is possible. 

8. It ensures password security and data audit facility.

‘Theme’ tab is used to change the theme Background of the screen.

• Direct Income
• Direct Expenses 
• Indirect Income 
• Indirect Expenses

Year End Activities consists of the following Year End Activities

• Closing Ledger Accounts. 
• Opening Ledger Accounts for the next year.

(A) Closing of Accounts: GNUKhata has a module to Close books at the click of a mouse, when this module is activated, balances in all expenses and incomes accounts are transferred to Profit and Loss/ Income & Expenditure account and the accounts are closed. After Close books is done, transactions cannot be recorded but ledger accounts can be viewed. 

(B) Opening Ledger Accounts for the next year: GNUKhata has a module to Roll over ledger accounts at the click of a mouse. This module opens accounts for the next year automatically and since it is automatic, it is error free. When Roll over is done. 

• New organisation with the same name and type is created by GNUKhata for the next accounting year. 
• Assets and liabilities accounts automatically open under its respective Groups and Sub Groups with opening balances. 
• Expenses and income accounts are opened under their respective Groups and Sub Groups without opening balances 
• The closing stock gets transferred to the next year as opening stock. 

This module can only be activated after close Books is done.

Step 1 – Creation of new organisation 

Step 2 – Creation of Admin and Login 

Step 3 – Creation of Sub Groups 

Step 4 – Creation of Ledger Accounts 

Step5 – Voucher Entry 

Step 6 – Editing opening stock and Closing stock account 

Step 7 – Display Ledger Accounts 

Step 8 – Display Trial Balance 

Step 9 – Display P & L Account 

Step 10 – Display Balance Sheet

(c) (a) and (b)

Correct answer is (a) One

Log in as ‘Admin user’ → Administration menu → Select ‘Delete Organisation’.

1. Bank Reconciliation Statement is done to identify why there is difference between the two balances (Cash Book balance and pass book balance) 

2. The date of transaction is the Transaction Date 

3. The date on which a particular transaction appears in a Pass Book is called the Clearance Date. 

4. The period for which Bank Reconciliation is done is called Reconciliation Period. 

5. The reconciliation is done by comparing the Trans-action Date and Clearance Date.

(a) Managing Director

Applications → Office → GNUKhata

GNUKhata  is a free and open source software for accounting, developed by Digital Freedom Foundation.

(a) one to one, 

(c) one to many, 

(e) many to many

Instruments of Monetary Policy:

1. Quantitative Measures: The measures which impact the entire economy in a general or common way Eire called quantitative measures or general measures.

• Bank Rate: The rate at which RBI lends to the commercial banks for long-term is called the bank rate.
• Repo Rate: The rate at which RBI lends to the commercial banks for short-term is called the repo rate.
• Reverse Repo Rate: The rate at which RBI borrows short-term funds from the commercial banks is csilled the reverse repo rate.
• Monetary stability under emergency: In an emergency situation like an acute cash shortage to maintain monetary stability, commercial banks borrow from the RBI at fixed rate of interest. This rate is higher than repo rate.
• Cash Reserve Ratio – CRR: A certain minimum cash which all commercial banks have to keep reserves with the RBI is called Cash Reserve Ratio. It fulfills the need of a comfortable amount of cash reserves with the banking system. It is used to control inflation.
• Statutory Liquidity Ratio – SLR: In addition of CRR, under the Banking Regulation Act 1949, all banks have to maintain 25 % of their total deposits in the form of cash, gold and unencumbered approved securities. This is known as statutory liquidity ratio.
• Open Market Operations – OMOs: Open > market operations refers to sale of or parchase of government securities / bonds by the RBI in the open market. Such operations are undertaken to regulate inflation and depression.
• Sterilization Policy: When there is excessive flow of foreign exchange, then to control this situation the RBI indulges in sale of government securities in open market equal to the amount of inflow of foreign exchange and maintains the balance of monetary system. This is known as sterilization policy.

2. Qualitative Measures: These measures have unique impact on some sectors and are not meant to impact all sectors similarly.

These measures are as follows:

• Security: Banks lend money against some security deposits like jewellery, car, home, land, etc. from the borrowers.
• Margin: An individual is given only a certain percentage as loan of the total value of assets offered as security. This percentage is called margin.
• Ceilling on credit: The RBI prescribes ceilings for credits for different purposes.
• Discriminatory interest rate: RBI suggests different rates of interest for different types of lending. This is called the policy of discriminatory interest rate.

Correct answer is (d) Ctrl + 3

(b) To copy a voucher

Create Organisation

(d) Description about the advantages and developer of GNUKhata

(b) Once organisation is created, the financial year can not be changed.

(b) Both A and R are correct

(a) A and R are correct and A explains R

(d) Diarrhoea

The control measures of noise pollution are: 

1. Development of green belt vegetation. 

2. Installation of decibel meters along highways and in places of public gatherings. 

3. Planting trees along the compound wall to protect houses.

Besides providing habitats for animals and livelihoods for humans, forest products are one of the most essential things in our day to day life. Therefore we must use forest products properly.

Due to the depletion of ozone layer, UV rays fall on the earth’s surface, and leads to impervious diseases like skin cancer, blindness, loss of plankton etc

Pollute means to degrade or to make dirty. It is caused entirely (or) partly due to direct (or) indirect actions of human beings. So pollution is an unfavourable modification of the natural world.

As the town expands, it mounts more pressure on transport system, water supplies, sewage and profuse disposal. The overall development creates problems like air pollution, water pollution, traffic congestion and noise pollution etc., This disturbed environment affects the human beings as mental illness, heart troubles, breathing problems etc.

(b) secondary

(b) packing plastics

1. Rectangular pattern 

2. Linear pattern 

3. Circular or semicircular pattern 

4. Star like pattern 

5. Triangular pattern 

6. T-Shaped, Y-Shaped, Cross-Shaped or Cruciform settlements 

7. Nebular pattern

(d) triangular pattern

Wastes can be classified into five types, which are commonly found around the house. These . include liquid waste, solid rubbish, organic waste, recyclable rubbish and hazardous waste like e-waste.

(a) temperature

(b) Human Environment

Environmental sustainability is the ability of the environment to support a defined level of environmental quality and natural resource extraction rates forever to mankind. Unnecessary disturbances to the environment should be avoided whenever possible.

1. Demography 

2. Census 

3. Overpopulation 

4. megacities 

5. Primary 

6. Ozone 

7. Urbanisation 

8. Public Distribution System

(a) Demography

Population growth leads to high competition for all available resources. It leads to poor quality of life, education, food supply, low income and so on.

The resources of Earth may exhaust one day and would lead to the end of mankind.

Quaternary sector deals with the activities related to Research and Development, as well as knowledge. For e g. Services like consultation, education and banking. Hence, it is called as knowledge economy.

The excessive usage of natural and manmade resources deplete its availability for the future generation. Hence conservation and awareness are the two important terms that can bring sustainability to our living: When we use the word sustainability to mean maintain, it means to maintain it forever. This is because our actions have a lasting effect on the environment and we should protect it for our future generations.