Explore topic-wise InterviewSolutions in Current Affairs.

Correct option is d) No commission is to be provided

The monetary value of reputation of the business is called Goodwill

Correct answer is: (A) ₹10,00,000

iii Rs.18,000, Rs.18,000, Rs.9,000 

Change in the partnership agreement results in Reconstitution of firm.

(c) Rs. 18000

Correct answer is (b) Software

Correct option is: (B) Loss to the existing partners

In an ordinary partnership maximum number of partners can be 20

Goodwill is in tangible Assets

ii It is fictitious asset

Correct answer is (c) Database

1. Programmers, others are hardware components.

2. ALU, others are software

3. Barcode reader, others are output devices.

1. Ready to use accounting software:

It is relatively easier to learn and people adaptability is very high. It is suited to small/ conventional organisations. The level of secrecy is relatively low. This software offers little scope of linking to other information systems.

2. Customised Accounting software:

Helps to meet the special requirement of the user. It is suited to large and medium organisations and can be linked to the other information system.

3. Tailored:

The accounting software is generally tailored in large business organisations with multi-users and geographically scattered locations. This software requires specialised training for users. The level of secrecy is relatively high and they offer high flexibility in terms of number of users.

Increase in the value of assets on reconstitution of the partnership firm results into Gain to the existing partners.

On reconstitution of the partnership firm, increase in the value of assets will result into Gain to the existing into

i Distributed to the partners in old profit sharing ratio

Correct answer is: (A) Market Value.

1-b
2-e
3-d
4-c
5-a

• DOS – Disk Operating System
• Windows – Windows Operating System

A. Revaluation of assets 

Correct option is A. 26 

People interacting with computers are called Live-ware of the computer system. It consists of the following 

three groups.

1. System analysts:

System analysts are the people who design data. processing systems.

2. Programmers:

Programmers are the people who write programs for processing data.

3. Operators:

Operators are the people who participate in operating the computer.

Windows → Operating system → Software.

a. Hardware:

• Keyboard
• Mouse
• Monitor
• Processor

b. Software:

• Windows or Linux (Operating System)
• COBOL or C++ (Computer Language)
• Assembler or Compilers (Language processor)
• Virus/Antivirus and Scanner (Utility programs)
• MS Excel or MS Office

c. Liveware:

• System analyst
• Programmers
• Operators

Correct option is C. Employee Provident Fund

Modern computerised accounting systems are based on the concept of Database.

A computerised accounting system is an accounting information system that processes financial transactions and events to produce reports as per user requirements.

a. Advantages:

1. Speed

2. Accuracy

3. Reliability

4. Efficiency

5. Storage and Retrieval

6. Automated document production

7. Quality reports

8. Real-time user interface

b. Limitations:

1. Huge training costs

2. Staff opposition

3. System failure

4. Breaches of security

5. Inability to check unanticipated errors

a. Input devices:

1. Keyboard

2. Mouse

3. Light pen

b. Output devices:

1. Monitor

2. Printers

3. Plotters

c. CPU:

1. Memory unit

2. ALU

3. Control unit

d. Secondary storage devices:

1. Floppy disk

2. Hard disk

3. Optical disk

Computerised accounting is different from manual accounting, the following are the main difference between these two:

a) Meen moilee and Kozhi curry

b) Yakhni and Rista

c) Dalcha and Haleem

Any other

Two objectives of cost accounting-

1. Ascertainment of cost 

2. Determination of selling price 

3. Any other

Advantages of cost accounting 

1. Cost determination 

2. Helping in cost reduction 

3. Any other 

Limitation of cost accounting 

1. Expensive 

2. Duplication of work 

3. Any other

Two objectives of cost accounting :

1. Ascertainment of cost 

2. Determination of selling price

1. Yes.

2. In the formation of the ionic bond, a metal atom losses electrons to form cation. This process requires energy equal to the ionisation enthalpy. Lesser the ionisation enthalpy of the metal atom, easier will be the removal of electron from the atom to form cation and hence greater will be the tendency to form ionic bond.

3. Electron gain enthalpy of the element forming anion.

Two conditions favoring bacterial growth:

1. warmth 

2. food

1. Toleration: assimilation is possible only when individual and groups are tolerated towards cultural deferences of others. Tolerance helps people to come together, to develop contacts and to participate in common social and cultural activities. When the majority group or the dominant group itself is secure.

2. Intimate social relationships: Assimilation is the final product of social contacts. The relative speed in which it is achieved depends on the nature of the contacts. It takes place naturally in primary groups such as family and friendship groups.

3. Amalgamation or intermarriage: It is an effective favoring assimilation process. It does not combine two opposite sexes but also two different families, castes, religious and regional groups together. A factor which helps complete assimilation is amalgamation which refers to the intermarriage of different groups without biological amalgamation complete assimilation is not possible. Mere inter mixture of the groups to a limited degree does not guarantee assimilation but intermarriage or amalgamation must be accepted in the mores and become a part of the institutional; structure, before assimilation exists.

4. Cultural similarity: If there are striking similarities between them an constituents of cultures of groups assimilation is quick to take place. In America, for example English¬speaking protestants are assimilated with greater aped than non-Christians who do not speak English.

5. Education: Education is another conductive factor for assimilation. For immigrant people public education has played a prominent role in providing culture contact. Maurice R Davis has pointed out in his “world immigration” that in American public schools has been playing the vital role in the process of Americanizing the children of foreign born parents.

6. Equal Social and economic opportunity: Public education alone is not enough. People of all groups must have equal access to socio-economic opportunities. Only then, they can come closer and establish relations among themselves with mutual trust. As it has been observed in the case of America, full assimilation is< possible only when full participation in social, cultural and economic life is allowed.

Assimilation is a two way process when it happens between two vulture groups. Each group contributing varying proportions of the eventual blend.

An investment is an asset or item acquired with the goal of generating income or appreciation. ... For example, an investor may purchase a monetary asset now with the idea that the asset will provide income in the future or will later be sold at a higher price for a profit.

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