Explore topic-wise InterviewSolutions in Current Affairs.

There’s a historical reason behind the oddities of cricket. Cricket was the earliest modern team sport to be codified, which is another way of saying that cricket gave itself rules and regulations so that it could be played in a uniform and standardized way well before team games like soccer and hockey. 

The first written ‘Laws of Cricket’ were drawn up in 1744. They stated, ‘the principals shall choose from amongst the gentlemen present two umpires who shall absolutely decide all disputes.

The first written ‘Laws of Cricket’ were drawn up in 1744. They stated, ‘the principals shall choose from amongst the gentlemen present two umpires who shall absolutely decide all disputes.

The world’s first cricket club was formed in Hambledon in the 1760s and the Marylebone Cricket Club (MCC) was founded in 1787. In1788, the MCC published its first revision of the laws and became the guardian of cricket’s regulations.

European dress codes were different from Indian dress codes. Let us take the example of the turban and the hat. The two headgears not only looked different but also signified different things. The turban in India was not just for protection from the heat but was a sign of respectability and could not be removed at will. In the western tradition, the hat had to be removed before social superiors as a sign of respect. The shoe is another example. The Indians took off their shoes when they entered a sacred place. The British did not do so.

Muslin would have fallen out of use as machine cloth had flooded the Indian markets and was cheaper. Muslin was expensive and hence was not used. In fact, the Industrial Revolution brought about a complete change in which muslin cloth had no place.

Mahatma Gandhi went to the Viceroy’s house clad in a dhoti. This signified the symbolic strength of his dress. It showed the pride he had for his nation and its people, especially the peasants. It also signified how he identified with his people and the strength he derived from them.

From 1294 to the time of the French Revolution in 1789, the people of France were expected to strictly follow the sumptuary laws. The laws tried to control the behaviour of those considered socially inferior, preventing them from wearing certain clothes, consuming certain foods and beverages, and hunting game in certain areas.

Fundamental rights are those rights which cannot be denied to a person at any cost.

Answer is America

Fundamental Rights are those rights which cannot be denied to a person at any cost. They are inevitable for the holistic development of an individual. They are very essential for leading a dignified life. So the Fundamental Rights and their protection are very important in a democratic society.

• Right to equality
• Right to freedom
• Right against exploitation
• Right to freedom of religion, cultural and educational rights
• Right to constitutional remedies are the fundamental rights.

Correct option is (d) Non-economic

Non-economic transaction is that transaction whose value cannot be measured in terms of money.

Depreciation account is a nominal account.

The transactions, which are neither cash nor credit transactions, but they are real or actual transactions, these transactions are called special or other transactions.

Theft of goods, goods destroyed in fire, goods given for donation, received goods against old furniture, asset turned defective or useless, etc. are special or other transactions, which are recorded in the books of accounts.

Debtor-Creditor relationship is created dhe to the credit transaction.

Cash transaction

1. A transaction in which an exchange of cash takes place is known as Cash transaction.
2. In such a transaction, one account is definitely related to Cash /Bank.
3. In such transaction specifies that it is for cash or there is no mention about cash or name of person.
4. Cash transaction is recorded in Cash book or Petty cash book.
5. Cash account or Cash book is prepared to keep record of cash transactions and cash balance can be known at the end of the given period.
6. No debt is created due to cash transaction.

Credit transaction

1. A transaction in which no exchange of cash takes place is known as Credit transaction.
2. In such a transaction, one account affected Is of a person.
3. In such transaction, there is only name of person without specifying that it is for cash.
4. Credit transactions are recorded in Purchase book, Sales book, Goods-returns book or in Journal proper.
5. Debtors and Creditors accounts are prepared from credit transactions and amount payable to creditors as well as total amount receivable from debtors can be known from these accounts.
6. A debt is created due to credit transaction.

Amreli branch account is personal account.

Internal transaction : These type of transactions would take place within business. In certain transactions of business, there is no need of other parties. That is why, these transactions are called Internal transactions, e.g., Loss in business due to natural calamity, depreciation on asset, asset became out of dated, etc. Internal transactions are all economic transactions but are non-cash transactions. These transactions are recorded in the books of accounts.

External transaction : When transactions are taken place between the business and other parties, then these transactions are called External transactions, e.g., purchased goods from traders, cash withdrawn from bank, amount paid for insurance premium, paid salary to employees, purchase of asset, payment of interest on B.O.D. to bank, etc. External transactions are all economic transactions, which are recorded in the books of accounts.

There are two types of business transactions :

1. Economic transactions and
2. Noneconomic transactions.

In credit transaction person’s account is always affected.

Purchased goods of ₹ 21,000 from Bhavna Stores on credit. Sold goods of ₹ 9,000 to Eshita.

Rent of ₹ 4,500 is receivable from Dhara. Brokerage of ₹ 6,000 is payable to Kailash.

Royalty account is a nominal type of account.

Paid salary of ₹ 15,000 to employee. (Salary is a service). Received commission of ₹ 12,000. (Work of commission is a service).

India is a land of diversity. It is inevitable to recognize and respect the diversity for maintaining the unity and development of the country. Hence, our Constitution gives prime consideration for the protection of minority interest. Cultural and educational rights have been included in the Constitution for the protection of the interest of the minority sections. According to this, the following aspects have been ensured for the minorities.

• Protection of their language, script, and culture
• Religious and linguistic minorities have the right to establish and administer educational institutions of their choice.

Cultural and educational right

Outstanding (unpaid) wages account is a personal type of account.

Correct option is (d) Personal account

Every nation expects cultural advancement. India, the land of cultural diversity is particular about it. The Constitution also helps to achieve this goal, by ensuring cultural and educational rights. By education, everyone learn about the cultural diversity of our nation. Similarly one can learn the culture of various regions through education. This knowledge will enable us to improve our cultural aspects and life in this way cultural and educational rights help to protect the cultural progress of the nation.

Purchased goods of ₹ 20,000 for cash. Sold goods of ₹ 24,000 on cash.

Those business transactions which can be measured in terms of money is called economic transaction from the view point of business.

Sales bill, Purchase bill, Credit note, Debit note, Counter folio of cheque, Pay-in-slip, Receipts, Expense bill, etc. can be included in vouchers.

Economic transaction

1. A transaction which can be measured in terms of money is known as Economic transaction.
2. Economic transactions have effect on business from accounting view point.
3. Economic transactions are recorded in the books of accounts of business.
4. Economic transactions can be classified into three types :(1) Cash transactions, (2) Credit transactions and (3) Exchange transactions.
5. Illustration : Purchased goods worth ? 24,000 for cash.

Non-economic transaction

1. A transaction which has no monetary value or in a transaction where money is not involved are known as Non-economic transaction.
2. Non-economic transactions have no effect on business from accounting view point.
3. Non-economic transactions are not recorded in the books of accounts of business.
4. Non-economic transactions cannot be classified.
5. Illustration: Received an order for supply of goods of ? 6,000 from Kushal.

Dead stock account is a real type of account.

Purchase-sale of goods, asset, service are made in present but their money is payable or receivable in future. These transactions are recognized as credit transactions.

Voucher is the first step of a business transaction.

Correct option is (d) Transaction without monetary value

Fundamental duties can be considered as the responsibilities which the individual have to perform towards themselves.

First effect means, debit effect of transaction while second effect means, credit effect of transaction.

A transaction because of which cash or bank balance of the business gets affected (increases or decreases) is known as cash transaction.

The nature of transaction is determined through voucher.

College of Veterinary Sciences.

Correct option is (c) Cash transaction of service

Dr. B.R. Ambedkar

1. Rhineland

2. Rome – Berlin

3. Roosevelt 

4. Chamberlain 

5. Royal Air force 

6. Radar 

7. 30 

8. Labour party

Dual effect means first effect is debit and second effect is credit. In short, every business transaction is recorded with at least two effects or aspects.

Correct option is (d) Goods destroyed by fire ₹ 5,000

Ludhiana and Hissar.

Correct answer is Five colleges