Explore topic-wise InterviewSolutions in Current Affairs.

• According to Gay-Lussac’s law, at constant volume, pressure of a fixed amount of a gas is directly proportional to its absolute temperature.
• During hot summer, the temperature of automobile tyre increases faster. Consequently, the air inside the tyre gets heated and the gas molecules starts moving faster.
• As the volume of the tyre remains constant, the pressure inside it increases.
• During winter, the temperature of automobile tyre decreases. Consequently, the air inside the tyre gets cooled and the gas molecules starts moving much slower and the pressure inside the tyre decreases. 

A) Impulse

Explanations:

Tension, trust, weight are all common forces in mechanics whereas impulse is not a force.

Impulse = force × Time duration.

The property by virtue of which an opposing force is created between two bodies in contact, which opposes their relative motion is called friction.

When the net external force on a system is zero, then there is no change in momentum of the system.

If the net force acting on an object is zero, the object which is at rest remains at rest or if the object is already moving with a certain velocity it continue to move with same velocity.

Correct answer is (d) 46%

This statement is False.

When a new person is admitted to the partnership firm, the old partners surrender a certain share in profit and give it to a new partner. In exchange for that new partner is required to bring goodwill in cash or in kind. If he is unable to bring cash for goodwill, then Goodwill is raised and adjusted to the new partner’s capital A/c.

This statement is True.

When goodwill is paid privately to the partners, by a newly admitted person, then in such case no transaction takes place in the business, and the firm as such is not all benefited. Hence it is not recorded in the books of accounts.

Indian Partnership Act, 1932 is applicable to partnership firms.

True

Explanation: Goodwill/Premium paid outside the business does not have any link with the business; so, no entry is recorded in the books of accounts.

A partnership is an agreement between two or more persons to share profits and losses of the firm. According to Section 4 of the Indian Partnership Act, 1932, “Partnership is the relation between persons who have agreed to share profits of a business carried on by all or any one of them acting for all.

Given; A sequence b₀, b₁, b₂ ... is defined by letting b₀ = 5 and b_k = 4 + b_{k – 1} for all natural numbers k.

⇒ b₁ = 4 + b₀

= 4 + 5 = 9

= 5 + 4.1

⇒ b₂ = 4 + b₁

= 4 + 9

= 13

= 5 + 4.2

⇒ b₃ = 4 + b₂

= 4 + 13

= 17

= 5 + 4.3

Let b_m = 4 + b_m-1 = 5 + 4m be true.

⇒ b_m+1 = 4 + b_m+1-1

= 4 + b_m

= 4 + 5 + 4m

= 5 + 4(m+1)

⇒ b_m+1 is true when b_m is true.

∴ By Mathematical Induction b_n = 5 + 4n is true for all natural numbers n.

It is a type of subsidiary book or special ledger. Where all credit sales of goods recorded in a set of original book of entry called sales book. 

It is a type of subsidiary books. In this book all returns from debtors and allowance granted are recorded. It is also called as return inward books.

Example for transferring entries are, Building closing balance, closing stock etc. 

• Transfer of total rent during the year to profit and loss a/c 

• Transfer of total wages to trading account.

 • Transfer of purchases by closing to trading account.

It is a type of subsidiary book which contains all details of credit purchase of goods during the year.

It is a statement containing the details of goods returned as quantity, rates etc. The credit note is prepared by the receiver of goods.

Petty Cash Book is used for recording payment of petty expenses, which are of smaller denominations like postage, stationary, conveyance, refreshment, etc. person who maintains petty cash book is known as petty cashier and these small expenses are termed as petty expenses. 

It is prepared by two methods: 

Ordinary system: In this case, a fixed sum of money is paid to petty cashier for the payment of petty expenses and after spending the whole amount, the account is submitted by the petty cashier to the main cashier.

Imprest system: In this case, a fixed sum of the money is given to the petty cashier in the beginning of a period and at the end of the period the amount spent by him is reimbursed, so that he has a fixed amount in the beginning of every new period.

Invoice or bills is a statement of goods along with quantity and price which is issued by seller to purchases.

Cash Book is a book of original entry book. It is a type of subsidiary book. It is maintained by business for recording cash receipts and payments during the year.

Purchase return a/c 

Dr. To purchases account 

1. Both purchase and sales book records credit transactions. 

2. Both records only transactions related to goods.

A cash book which contains only one amount colum called simple column cash book or single column cash book. 

The needs for drawing up the special purpose book are given below: 

• Quick and efficient recording: It is a time consuming process to record all the transactions in a journal. If there are separate books, then recording of transactions can be done more efficiently and timely. So, the need of special purpose book arises. 

• Repetitive nature: In every business, some transactions are similar and repetitive in nature. It will be more convenient to record all similar transactions at one place. For example, all credit sales transactions are recorded in the sales book. 

• Economical: It is more economical as recording through the special purpose books saves time and also enhances the efficiency of accountants and clerks. 

• Easy posting: If similar transactions are recorded at one place, posting becomes easier. 

• Complete information at one place: All information related to purchases, sales, cash receipts, payments, etc. are easily and hassle-free available.

The process of accounting starts from identification of financial and nonfinancial events. Financial events are first recorded in a Journal. A small business has lesser number of transactions and thereby it may be possible to record these transactions through Journal entry. However, on the contrary, as the business grows, there will be voluminous number of transactions and the firm may experience difficulty, thereby it becomes tedious to record through Journal entry. Thus, in order to save time and effort, it is recommended to sub divided Journal.

The purpose of maintaining subsidiary Journal are given below.

• It saves time and efforts in recording. 

• It enables division of work, leading to an enhancement of efficiency and effectiveness, as particular accountant takes care of particular books. 

• It also makes each accountant more responsible and accountable for the books assigned to them. 

• It records routine and repetitive transactions at one place, which leads to easy accessibility of information and hassle-free communication.

It is a type of subsidiary books. It contains the details of goods return to supplier.

Cash Book is a book of original entry. It records all transactions related to receipts and payments of cash and deposits in and withdrawals from a bank in a chronological order. In the debit side of the cash book, the cash receipts are recorded in the cash column while all deposits into bank account are recorded in the bank column. On the contrary, in the credit side of the cash book, all cash payments are recorded in the cash column, while all payments through cheques are recorded in the bank column. Usually, it is prepared on monthly basis. 

Cash book also serves the purpose of principle book (i.e. cash account and bank account).

a. Single column Cash Book: A single column Cash Book contains one column of amount on both sides, i.e., one in the debit side and other in the credit side. In the single column Cash Book, only cash transactions are recorded. In the debit side of the Cash Book, all cash receipts are recorded, while in the credit side all cash payments are recorded.

b. Double column Cash Book: A double column Cash Book contains two columns of amount, namely cash column and bank column on both sides. In the cash column of Cash Book, all cash receipts and payments are recorded, according to the rule of Real Accounts. All deposits either in cash or through cheques into the bank account of the business are debited in the bank column and al withdrawals of cash and payments through cheques are credited in the bank column.

c. Triple column Cash Book: In a triple column Cash Book, there are three coumns of amount namely, cash, bank and discount. Discount allowed and discount received are recorded in the discount column. While in the debit side, discount allowed is recorded along with the receipts, either in cash or through cheque; whereas, in the credit side, discount received is recorded, along with the payments made either in cash or by issuing cheques.

d. Petty Cash Book: This book is used for recording payment of petty expensed, which are of smaller denominations like, postage, stationery, conveyance, refreshment, etc. is known as petty cash book. 

Petty cash book is used for recording payments of small expenses, which are of smaller denominations such as postage, stationery, conveyance, refreshment, etc. person who maintains petty cash book is known as petty cashier and these small expenses are termed as petty expenses.

It is prepared by the below given two methods:

1. Ordinary system: Under this system, a certain sum of money is given to the petty cashier for the payment of petty expenses. After spending the whole amount, the accounts are submitted by the petty cashier to the main cashier. 

2. Imprest system: Under this system, a fixed sum of money is given to the petty cashier in the beginning of a period to meet the petty expenses to be incurred in that period. At the end of the period, the amount spent by petty cashier is reimbursed. So, the petty cahier has the same fixed amount of money in the beginning of the next period.

Advantages of petty cash book 

• Simple method: Recording of transactions in a petty cash book is easy. In an analytical petty cash book, there exists separate heads for different petty’ expenses, which makes recording much easier. Recording in a petty cash book does not require formal knowledge of accounting principles and techniques. 

• Time saving: Recording in petty cash book saves time and efforts of the chief cashier. 

• Efficient control: At the end of a period, petty cash book is audited by the main cashier, so frauds and errors are less probable, 

• Convenient handling: Recording in petty cash book is convenient, as entries are to be recorded under separate heads, which makes posting easier and quicker.

Three column cash book is a cash book which contains cash column, bank and discount column, there all cash bank & Discount related transactions are recorded.

Business transactions are large in number and difficult to record; so, journal is sub-divided for quick, efficient and accurate recording of the business transactions. Special purpose books like, sales book and purchases book are maintained for those transactions that are routine and repetitive in nature.

Transfer entry is passed when an amount of one account is to be taken to some other account.

It is an allowance given by creditor to the debtor for prompt payment of the debt.

Trade discount is a reduction in the catalogue price or invoice price of the goods sold. 

The transaction that is entered in either sides of the double column or three column cash book, affecting both cash and the bank balances concomitantly is called contra entry. These entries result in increase in cash balances and decrease in bank balances or vice versa. In other words, a debit of bank account leads to a credit of cash account and a credit of bank account leads to a debit of cash account. For example, Rs 200 cash deposited into bank. This transaction increases the bank amount on one hand; whereas, on the other hand reduces together. The contra entries are denoted by ‘C’ 

Some transactions that lead to contra entry are given below.

1. Opening a bank account 

2. Depositing cash into bank 

3. Withdrawal from bank.

Contra entry represents deposits or withdrawals of cash form bank or vice versa. The purpose of contra entry is to indicate the transactions that effect both cash and bank balances. This entry does not affect the financial positions of a business. A contra entry is recorded in both sides of receipts of payments of Cash Book and is denoted by ’C’ in the ledger folio column.

The cash book which contains of discount column and cash column called two column cash book or cash book with cash and discount.

Cash discount is an allowances or deductions made from the amount due. It is allowed by creditor to debtors.

A single transaction entering both the side of three calumn cash book called contra entries.

Super profit is calculated by deducting of general profit from average profit difference called super profit. While average profit calculated average of some year profit (Less Loss).

Wheel is a rigid elastic body which is in uniform motion about axis passing through its centre and perpendicular to the plane of wheel. The particles that constitute the wheel do experiment centripetal acceleration directed towards the centre. This centripetal acceleration arises due to internal elastic forces which cancel out in pairs.

In a half wheel the distribution of mass about its centre of mass (axis of rotation) is not symmetrical. Therefore, the direction of angular momentum does not coincide with the direction of angular velocity and hence an external torque is required to maintain rotation.

Answer: (b)

In acidic medium the number of electrons involved are 5.

Mno₄ + 8H+ + 5e– → Mn²⁺ + 4H₂O

Eq. mass of KMnO₄ = 158/ 5 =31.6

In basic medium the number of electrons involved are 3.

Mno₄ + 2H₂O+ + 3e– → MnO₂ + 4OH-

Eq. mass of KMnO₄ = 158/ 3 = 52.7

Equivalent mass of KMnO₄ in acidic and alkaline medium is 31.6 and 52.7 respectively.

(c) Bio-reactor

(a) Thickness of a sheet of paper. 

Size of the oil molecule. 

Height of Mount Everest. 

Radius of earth. 

Radius of sun.

The no. of seconds in a year = 10⁷ second, the no. of microseconds in a second = 10⁶ . So no. of seconds in a year is bigger than microseconds in a second.

The CM of the plate is now in the quadrant of x-y plane,

 (c) III 

Reconstitution of a partnership firm under which existing agreement comes to an end once a new one comes into existence called reconstitution of partnership firm.

• To get profit share in the firm: New or incoming partner is entitled to share of the firms profit.
• To get share in firm’s assets: At the dissolution of firm new partner is also entitled to get share in the total assets of the firm.

Revaluation accounts nature is real account.