Explore topic-wise InterviewSolutions in .

Correct option is D. Statistical approach

Correct option is A. Globalisation

Correct option is D. Marketing

Correct option is C. Job evaluation

Correct option is B. Extrinsic reward

Correct option is A. Relative ranking

Correct option is D. Retrenching

Correct option is D. High employee turnover

Correct option is D. All of the above

(B) Storing, (C) Manipulating, (D) Retrieving

(a) Cash basis

The nature of Receipt and Payments Account is An Asset.

1. Main aim is service 

2. Profit is not the criterion 

3. Surplus not distributed among its members 

4. Separate entity 

5. Unique names connect their working 

6. Management by elected persons

(b) Provide service

(c) A Liability

(A) Treatment in income and expenditure account: 

When subscription received for the current year, previous years and subsequent period are given separately, subscription received for the current year will be shown on the credit side of income and expenditure account after making the adjustments given below:

•  Subscription outstanding for the current year is to be added. 

•  Subscription received in advance in the previous year which is meant for the current year is to be added.

When total subscription received in current year is given:

•  Subscription outstanding in the previous year which is received in the current year will be subtracted. 

•  Subscription received in advance in the previous year which is meant for the current year is added and subscription received in advance must be subtracted.

(B) Treatment in Balance sheet:

•  Subscription outstanding for the current year and still outstanding for the previous year will be shown on the asset side of the Balance sheet. 

•  Subscriptions received in advance in the current year will be shown on the liabilities side of the Balance sheet.

1. Cash Book 

2. Ledger 

3. Member’s Register 

4. Register of Assets 

5. Final Accounts: (a) Receipt and payments Account 

6. Income and Expenditure Account 

7. Balance Sheet

(a) Real Account

(a) wrapping

1. Opening and Closing balances of cash and bank a/cs in receipts and payment account must be excluded.

2. Capital receipts and capital expenditure must be excluded.

3. Only revenue receipts pertaining to the current year should be taken to the credit side of income and expenditure account. Due adjustments should be made for income received in advance income accrued for the current year and for the amount relating to the previous year or years.

4. Similarly revenue expenditure relating to the current year only must be taken in the debit side of income and expenditure account. Adjustment must be made for outstanding expenses of the previous year and current year and for the prepaid expenses of the previous year and current year.

5. Any income or expense relating to specific fund must not be taken to income and expenditure account.

6. Non – Cash items such as bad debts, depreciation, loss or gain on sale of assets etc. which are not recorded in receipt and payments account must be recorded in income and expenditure account.

7.The balancing figure of income and expenditure account is either surplus or deficit and will be transferred to capital fund in the balance sheet. If the total of credit side of income and expenditure account is more than the total of debit side (excess of income over expenditure), the difference represents surplus. If the debit side total income and expenditure is more than the total of credit side), the difference represents deficit.

1. Life membership fees 

2. Legacies 

3. Specific donation

4. Sale of fixed assets

Some organisations are established for the purpose of rendering services to the public without any profit motive. They may be created for the promotion of art, culture, education and sports, etc. These organisations are called not-for-profit organisation.

Life membership fee is accounted as a capital receipt and added to capital fund on the liabilities side of Balance sheet. It is non – recurring in nature.

Receipts and Payments account is a summary of cash and bank transactions of not-for-profit organisations prepared at the end of each financial year. It is a real account in nature.

It is the amount given to a non-trading concern as per the will. It is like a donation. It appears on the debit side of receipts and payments account, but is not treated as income because it is not of recurring nature. It is a capital receipt.

(d) Capital receipt

(b) Capital receipt

The correct answer is : (d) Capital

In this poem the poet conversed with the earthen goblet. The poet tried to bring out the misery that had been faced by the goblet in the process of becoming a goblet. The goblet was red in colour from its top to bottom. The poet expressed his sympathy for the goblet. He asked the goblet how it felt when he was being turned round and round up on the potter’s wheel before the potter made it. The goblet felt a conscious impulse in its clay to break away from the potter’s hand. It burnt so warm that it suffered very much to get into its present form. The goblet became a prisoner on the potter’s wheel and was shaped into his dark red coloured goblet-sleep. It thought that the time when it was on the wheel was most deadly. The goblet had the fragrant friendship of a little flower whose root was buried deep in its heart when it was in the form of clay. The potter drew out the living breath of the clay and gave it the shape of deadly goblet. The goblet thought that its past unshapely natural stage (the clay) was best with just one flower flaming through its breast. The goblet didn’t like its present shape.

These are Computer languages used to develop software and manage it.

c. He was not determined or confident about his destiny

Yes, Vempati China Satyam was successful at the end. He wanted to elevate the status of Kuchipudi he had learnt from his great gurus. He decided to dedicate his life for the enrichment of that art form. So, he left his house for Madras. He carved a niche in Telugu film industry as a Kuchipudi dance director. He established Kuchipudi Art Academy in 1963 in Madras. He composed and choreographed as many as 180 solo items and 15 dance dramas. All his disciples were distinguished ones such as Shanta Rao, Yamini Krishna Murthy, Vfyjayanthimala Bali, Hema Malini, Manju Bhargavi, Shoba Naidu, Bala Kondala Rao and Daggubati Purandheshwari. He was conferred many awards. All the Telugu speakers identify themselves with ‘Kuchipudi’. The rest of the world looks at Kuchipudi and Dr. Vempati’s stupendous work with reverent eyes. Thus, Dr. Vempati was successful when he elevated the status of Kuchipudi.

(c) Wisdom is applied knowledge and it has a capacity to choose when and how to use knowledge.

True 

Data are raw facts, which after processing is called information and further refinement of information is called knowledge.

i. (a) debited

ii. (b) Revaluation

iii. (c) Sacrifice

iv. (b) Sacrifice

v. (c) 3 : 3 : 2

Differences between data and information are as follows:

This statement is True.

When a partner takes away any asset from the business, Asset Account will be credited and the Partner’s Account will be debited as it decreases the partner’s capital.

This statement is True.

At the time of Retirement or Death of a partner, existing partners may have some gain, which is found out by the Gain ratio = New ratio – Old ratio.

When the debentures are issued with specified rate of interest, such an interest rate is called the coupon rate.

Correct option: (c) 60 days

This statement is False.

When a new partner is admitted, old partners have to sacrifice their profit share in favour of the new partner and their old ratio gets reduced and whatever ratio is left becomes a new ratio. Hence, as per equation: New Ratio = Old Ratio – Sacrifice Ratio. By interchanging the terms,

Sacrifice Ratio = Old Ratio – New Ratio.

i. Super Profit Method

ii. Revaluation A/c or Profit and Loss A/c

iii. Goodwill

iv. Old Ratio

v. Premium Method

vi. Sacrifice Ratio

vii. Normal Profit

viii. Partner’s Capital A/c or Partner’s Current A/c

ix. Undistributed Profit or Accumulated Profit

x. Sacrifice Ratio

Convertible debentures are the debentures that can be converted into shares of the company as per the terms of their issue.

Debenture holders receive interest on investment.

Correct option: (a) register of debenture

Debentures that are secured by a charge on the whole or part of assets of the company are called secured debentures.

In order to credit rating of securities, the company can appoint a Credit Rating Agency.

If a company is engaged in infrastructure projects it may issue secured debentures for a period exceeding 10 years but not exceeding 30 years.

This statement is False.

Revaluation profit arises due to efforts and hardworking of the old partners in the past and hence profit earned on revaluation of assets and liabilities at the time of admission of a person as a partner in the business belongs to old partners. So, such profit is not distributed among all partners including the new partners. It is distributed only among old partners.