Explore topic-wise InterviewSolutions in Current Affairs.

(C ) 5 : 4 : 1 

Application of fund Increase in fixed assets due to cash purchases.

(A) Loss Rs.28,000 

(A) Old partners capital account in the old profit sharing ratio. 

c) Old profit sharing ratio 

c) Reconstitution of partnership 

c) Credited to Revaluation A/c 

Correct option is c) Credited to Revaluation A/c

On dissolution of the firm, Partner’s Capital accounts are closed through Bank Account

(a) Polymerase Chain Reaction 

(b) Denaturation, Annealing and Extension 

(c) Thermostable DNA polymerase remains stable at high temp.

Planning is Necessary. 

The Primary source to a company is Debentures.

A firm can be voluntarily dissolved by the Partners On Majority basis

A disorder caused due to deletion of the gene for enzyme adenosine deaminase. 

Since life span of such genetically engineered lymphocytes is very short, the patient need repeated introduction of such lymphocytes into body..

Variables are used for 4 technical capability. 

A good plan is Flexible. 

Correct option is: (A) On majority basis

(i) Ecological succession requires soil 

(ii) Forest destroyed by fire has some soil 

(iii) Bare rocks has no soil and takes lot of time before soil can be formed on bare rocks

Even after floods the land mass has plenty of soil and thus ecological succession will be faster.

Project is Cluster of activities.

Correct option is: (C) Partners Capital A/C

Current ratio is the relationship between Current assets and current liabilities.

DPR is Action Plan.

If a partner takes over a liability of the firm, that partner’s capital account is Credited

Networking capital means C.A. – C.L.

Outstanding Subscription is shown on the Assets side of the Balance Sheet.

Closing stock is Source of fund. 

Current Ratio is Balance sheet Ratio. 

The liability of every shareholder of a company is Limited.

Smoking a bad habit because

• Smoking tobacco is the greatest risk factor for cancer mortality.
• Tobacco smoke has more than 7000 chemicals and at least 250 are known to be harmful and more than 50 of them are known to cause cancer.
• Tobacco smoking causes many types of cancers, including cancers of the lung, oesophagus, larynx (voice box), mouth, throat, kidney, bladder, pancreas, stomach, and cervix. 

Australopithecus is the ancestor of humans which is described as a man with an ape brain.

Equity share holders are owners.

The biosphere, which includes the ground and the air, is characterized as the region of the planet where organisms live. The biosphere is defined as the region on, above, and below the Earth’s surface where life exists.

An ecosystem is a geographic area where plants, animals, and other organisms, as well as weather and landscape, work together to form a bubble of life. Ecosystems contain biotic or living, parts, as well as abiotic factors, or nonliving parts.

Dissolution means Discontinuance of Existing relationship among the Partners. According to Section 39 of the Indian Partnership Act, 1932, “Dissolution of the firm means dissolution of partnership among all the partners in the firm.” Dissolution of the firm means that the business is discontinued and the firm is wound up, i.e., dissolved. When the firm is dissolved, all assets are realized and liabilities are paid. The balance is paid to the partners in settlement of their Accounts.

DISTINCTION BETWEEN DISSOLUTION OF PARTNERSHIP AND PARTNERSHIP FIRM 

The Social responsibility of management is Towards all.

Margin of safety Actual sales less B.E.P. sales.

C. only 2 and 4

Present Production system, infact is In direct Production. 

Activity Ratio Stock turner ratio comes under.

Margin of Safety: Margin of safety refers to the difference between total sales and the sales at break even point Margin of safety indicates the soundness of the business. A high margin of safety indicates an extremely, favourable position of the firm is the market since even with a sustained decline in sales the firm will continue to earn profit. 

Contribution: By contribution we mean the difference between the sales price and variable cost or marginal cost. In other words, the excess of amount received through sales over the variable cost in termed on contribution. This amount is equal to fixed cost and profit or, 

Contribution = Sales price - Marginal cost. 

Or, Contribution = (Fixed cost + Profit - Loss) 

Or , Contribution = Sales x P/V Ratio.

Brand indicates Symbol, Design and Name.

According to the father of Management Peter F. Drucker, “Management is a multipurpose organ that manages a business, manages managers and manages workers and work.” Different scholars have different openions regarding the function of management like they are at variance on the definition of management. The subjects of the management functions were taken up in 1916 by Henry Fayol. According to his opinion, management refers to the forecast and pre-determind projection, Planning, Organising, directing, to-ordinating and controlling. Accordingly, Fayol has described the following five areas of activities for the management:-

1. To forecast and plan

2. To organise

3. To command

4. To co-ordinate

5. Control

With regards to the functions of management getting impressed with Fayol”s ideology. Luther Gulick, the first chairman of the American “National Public Administrative Institution,” has prepared a list of seven functions of management in term of “PODSCORB” is the following sequence:-

1. Planning

2. Organisation

3. Operating

4. Staffing

5. Co-ordinating

6. Reporting

7. Budgeting.

Harold simdi opines the four functions is terms of “POIM-

1. Planning

2. Organisation

3. Integration and

4. Measuring

Nylce has said that co-ordination and organising are only two tasks of management.

1. Planning:- The first task is to determine as what to do, why to do , where to do, how to do and by whom it is done taking all these points into consideration, the management has to plan a programme by determining the objectives and planning. Besides it, a course of action is also chartered for encountering the adverse conditions. Without any definite and concrete planning to start a venture means to invite to uncertainties and failures. 

2. Organising:- After determining the objectives as planned the second phase is taught with the problems of executions which is got encountered by the organisation through its management. Here the organisation refers to the medium or instrument by which the objectives are to be accomplished as determined through planning. These planning of an organisation however may be very attractive and good, yet for want of a proper execution can prove to be a fiasco. 

3. Staffing:- The first and foremost function of management is to make appointments of the employees. To appoint staff is the administrative function of the management which means to make appointment of various employees as planned in the organization, to provide them adequate training, promotion, motivation, retirement and transfer facilitated etc where are also to be there are efficient employees and dedicated workers the should will be organisation with the efficient management. More efficient is the work-force, stronger should be the organisation, otherwise in absence of which, the management is rendered incapacitated.

4. Directing:- Directing is the most important task of management which is directing and conducting various activities. Management basically is doing and getting done along with other and such as an art. Forgetting things done through others, it is imperative to give them directions for carrying out certain actions for the fulfilment of objectives. Here, directing refers to making other understand as what have they to do, how to do and this is also to be seen whether they are performing their duties as per the norms or not. Directing is the most significant task of management which gives may to a collective endeavour and transforms the management decision into actuality and also paves the way to the fulfilment of the organisational objectives. 

In directing four kinds of activities are included:- 

i. Supervision:- It aims at keeping an eye on the activities of the subordinate employees. Supervision task is to see to it whether or not the employees at lower rank are complying with the directions and the supply of the raw material, machinery are being properly utilised or not. 

ii. Communication: -It is such a process through which any information is passed on from one person to the other. A manager needs to inform to him subordinate that what is expected of him as what he is expected to do and how should he do it. 

iii. Leadership:- It is a process in which the management through an effective leadership has to ensure a good behavioural pattern on the part of the employees by directing a code of conduct. Management also solicits cooperation and support from its work force for the realization of the organization objectives.

iv. Motivation:- It means to encourage or inspire the subordinate employee. So that they should enthusiastically participate in the organisational affairs and perform to the best of their …for the facilitating the realization of goal of their enterprise. 

v. Controlling:- A layman takes management for controlling and vice-versa. To him, a man who supervises a task which is already done and tries to see it accuracy and precision and whether or not its is satisfactorily done, being a member of the management he inforces the decision.

Ledger Account is not a part of financial statement of a company. 

At decline stage of growth :

The enterprise finds it difficult to survive.

The enterprise starts incurring losses at an increasing rate.

The enterprise prefers to close its shutters.

SFC Act in India was passed in 1951.

An amount that has to be paid or given up in order to get something. In business cost is usually a monetary valuation, material resources, time and utilities consumed that called cost.

Integration means Expending externally.

IDBI was established in 1964. 

Outstanding liabilities refers to those payments which are organisation accounting to its requirement has taken some conditions or other material and the payment of which is still outstanding as the cost and other expenses are the outstanding liabilities of an organisation. Many times, the organisation by stopping such payments, are invested on the important tasks of business organisation but this kind of strategy spoils the organizational image. Such outstanding liabilities include the labour, wages, salaries, loans, raw materials etc.

Financial Statement are Record facts.