Saved Bookmarks
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1251. |
Sold goods to ratnavar of the list price RS 15000 at trade discount of 10% |
|
Answer» Ratnavar A/c........Dr. 13,500To sale A/c. 13,500 Ratnavar A/c ...............dr..13500 To Sales A/c................13500 Ratnavar A/c ............Dr. 13500Discount A/c.............Dr. 1500 To Sales A/c 15000 RatnavarA/c. Dr. 13500 To sales A/c. 13500 Help plzz |
|
| 1252. |
What should we write if the question is cash purchases rs 1,00,000 paid by cheque? |
|
Answer» Purchased A/c.......Dr. 1,00,000To bank A/c 1,00,000 journalpurchase a/c Dr. 1,00,000 To bank a/c. 1,00,000 Deduct from bank and add in stock.. |
|
| 1253. |
Nature of accounting standards |
| Answer» Land | |
| 1254. |
Cash in hand rs4000 |
| Answer» ? | |
| 1255. |
What is the golden rules in accountancy?? |
|
Answer» The golden rules of accounting also revolve around debits and credits. Take a look at the three main rules of accounting:\tDebit the receiver and credit the giver\tDebit what comes in and credit what goes out\tDebit expenses and losses, credit income and gains Thank you dia? |
|
| 1256. |
State accounting process in brief |
| Answer» Accounting process is that... IdentificationMeasurementsRecordingCommunicationIdentification means to identify between events and transaction.. Measurements means financial terms using monetary unit.. Recording means record in books? of account in chronological order.... Communication means organization communicate through financial ? report.. I hope it\'s help u lot.... ??? | |
| 1257. |
Imtrence exam study |
| Answer» | |
| 1258. |
Balance of cash in hand of journal entry |
| Answer» Cash dr | |
| 1259. |
Supplied goods costing 3600 to Sanjay. issued invoice at 20% above cost less 10% trade discount |
| Answer» List Price- 3600 -20% cost less =2880List price=2880-10% trade discount=2592 | |
| 1260. |
how many types of trial balance ? |
| Answer» four | |
| 1261. |
How to prepare notes of ch accounting equation |
| Answer» write only all formules which are given in chapter | |
| 1262. |
Ridhima commenced business with cash rupees 1,00,000 and bank balance70,000 |
| Answer» Which Chapter | |
| 1263. |
Class 10 kab aayega??? ?? |
|
Answer» If you are asking for the result, then let me tell you that the result will come before 5th August. Result will come this week ? Kya mtlb Sayad 2 August |
|
| 1264. |
Additional capital introduce as cash rs 10000 and dilivery van journal entry |
| Answer» Cash A/c Dr. 10000Delivery Van A/c Dr. 50000 To Capital A/c 60000 | |
| 1265. |
What did grandmother do from sunrise to sunset? |
| Answer» (i) The author\'s grandmother rarely left her spinning wheel. From sunrise to sunset, she sat by her spinning wheel. (ii) While she sat by her spinning wheel, she recited her prayers and did not talk to anyone. | |
| 1266. |
Under bouble entry book keeping system |
| Answer» | |
| 1267. |
One third of 60000 goods sold at a profit of 20% on Cost half the payment received in cash |
| Answer» | |
| 1268. |
One third of the above goods sold at a profit of 20% on Cost half the payment received in cash |
| Answer» | |
| 1269. |
Income is a part of revenue. Explain it |
| Answer» | |
| 1270. |
Define Book keeping ? |
| Answer» Book keeping is an art of recording, classifying and summarizing the business transactions in monetary terms in the books of account. | |
| 1271. |
What is the meaning of Book keeping ? |
| Answer» Book keeping is a part of accounting. The process of recording financial transaction in a systematic manner and classifying them into ledgers is termed as Book Keeping | |
| 1272. |
What is sale book |
| Answer» A Sales book is a record of all credit sales made by a business. It is one of the secondary book of accounts and unlike cash sales which are recorded in cash book, sales book is only to record credit sales. The amount entered in the sales book is on behalf of invoices supplied to purchasers. | |
| 1273. |
Meaning of saving |
| Answer» Money that you have saved for further use | |
| 1274. |
Record the following transactions in the single cash book of asha Bhonsle |
|
Answer» Then it\'s okay? bro Sorry woh type krte krte send hogya tha ..... Mil gya thx Bhai... Question tho pura likha kro....... Nhi to answer v aaisa hin milega... Aadha adhura.. ??? |
|
| 1275. |
daksh had an ambition to start a business prepare journal ledger and trial balance |
| Answer» | |
| 1276. |
Daksh has an ambition |
| Answer» | |
| 1277. |
What happen when we withdraw cash for office use..... |
|
Answer» Office expense acc dr To cash acc Thanku I think it isCash A/C ..... Dr To bank A/C |
|
| 1278. |
Activity 1Chapter 1 |
| Answer» A. Economic transactionsB. Management/employeesC. CreditorD. Time-gapE. ExternalF. Free from biasG. Identifying the transaction and communicating informationH. MonetaryI. Chronological | |
| 1279. |
Sold goods to dilip of the list price of ₹62,000 of ₹60,000 |
| Answer» Dilip a/c. Dr. 60000Discount allowed a/c. Dr. 2000 To dilip\'s a/c. 62000 | |
| 1280. |
Mithila was a commercial town |
|
Answer» Bhai.... Ye kaisa question hai... Accountancy mai tho mein padhi hin nhi... Agr aap ke book mai hai to khud padh lo.. ?????? What a rubbish question? |
|
| 1281. |
Discuss any thrree capabilities of computer system for accounting purpose |
| Answer» | |
| 1282. |
Angad baloo and chitra were partners in a firm sharing profits and loses in the ratio of 6:5:3 |
|
Answer» Yes.. Sia.... U r ri8 siso. ... ???? Please ask question with complete information. |
|
| 1283. |
Notes of Baaic Accounting Terms |
|
Answer» 1. Accounts receivable (AR) definition: The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.2. Accounting (ACCG) definition: A systematic way of recording and reporting financial transactions for a business or organization.3. Accounts payable (AP) definition: The amount of money a company owes creditors (suppliers, etc.) in return for goods and/or services they have delivered.4. Assets (fixed and current) definition: Current assets (CA) are those that will be converted to cash within one year. Typically, this could be cash, inventory or accounts receivable. Fixed assets (FA) are long-term and will likely provide benefits to a company for more than one year, such as a real estate, land or major machinery.5. Asset class definition: An asset class is a group of securities that behaves similarly in the marketplace. The three main asset classes are equities or stocks, fixed income or bonds, and cash equivalents or money market instruments.6. Balance sheet (BS) definition: A financial report that summarizes a company\'s assets (what it owns), liabilities (what it owes) and owner or shareholder equity, at a given time.7. Capital (CAP) definition: A financial asset or the value of a financial asset, such as cash or goods. Working capital is calculated by taking your current assets subtracted from current liabilities—basically the money or assets an organization can put to work.8. Cash flow (CF) definition: The revenue or expense expected to be generated through business activities (sales, manufacturing, etc.) over a period of time.9. Certified public accountant (CPA) definition: A designation given to an accountant who has passed a standardized CPA exam and met government-mandated work experience and educational requirements to become a CPA.10. Cost of goods sold (COGS) definition: The direct expenses related to producing the goods sold by a business. The formula for calculating this will depend on what is being produced, but as an example this may include the cost of the raw materials (parts) and the amount of employee labor used in production.11. Credit (CR) definition: An accounting entry that may either decrease assets or increase liabilities and equity on the company\'s balance sheet, depending on the transaction. When using the double-entry accounting method there will be two recorded entries for every transaction: A credit and a debit.12. Debit (DR) definition: An accounting entry where there is either an increase in assets or a decrease in liabilities on a company\'s balance sheet.13. Diversification definition: The process of allocating or spreading capital investments into varied assets to avoid over-exposure to risk.14. Enrolled agent (EA) definition: A tax professional who represents taxpayers in matters where they are dealing with the Internal Revenue Service (IRS).15. Expenses (FE, VE, AE, OE) definition: The fixed, variable, accrued or day-to-day costs that a business may incur through its operations.\tFixed expenses (FE): payments like rent that will happen in a regularly scheduled cadence.\tVariable expenses (VE): expenses, like labor costs, that may change in a given time period.\tAccrued expense (AE):an incurred expense that hasn’t been paid yet.\tOperation expenses (OE): business expenditures not directly associated with the production of goods or services—for example, advertising costs, property taxes or insurance expenditures.16. Equity and owner\'s equity (OE) definition: In the most general sense, equity is assets minus liabilities. An owner’s equity is typically explained in terms of the percentage of stock a person has ownership interest in the company. The owners of the stock are known as shareholders.17. Insolvency definition: A state where an individual or organization can no longer meet financial obligations with lender(s) when their debts come due.18. Generally accepted accounting principles (GAAP) definition: A set of rules and guidelines developed by the accounting industry for companies to follow when reporting financial data. Following these rules is especially critical for all publicly traded companies.19. General ledger (GL) definition: A complete record of the financial transactions over the life of a company.20. Trial balance definition: A business document in which all ledgers are compiled into debit and credit columns in order to ensure a company’s bookkeeping system is mathematically correct.21. Liabilities (current and long-term) definition: A company\'s debts or financial obligations incurred during business operations. Current liabilities (CL) are those debts that are payable within a year, such as a debt to suppliers. Long-term liabilities (LTL) are typically payable over a period of time greater than one year. An example of a long-term liability would be a multi-year mortgage for office space.22. Limited liability company (LLC) definition: An LLC is a corporate structure where members cannot be held accountable for the company’s debts or liabilities. This can shield business owners from losing their entire life savings if, for example, someone were to sue the company.23. Net income (NI) definition: A company\'s total earnings, also called net profit. Net income is calculated by subtracting total expenses from total revenues.24. Present value (PV) definition: The current value of a future sum of money based on a specific rate of return. Present value helps us understand how receiving $100 now is worth more than receiving $100 a year from now, as money in hand now has the ability to be invested at a higher rate of return.25. Profit and loss statement (P&L) definition: A financial statement that is used to summarize a company’s performance and financial position by reviewing revenues, costs and expenses during a specific period of time, such as quarterly or annually.26. Return on investment (ROI) definition: A measure used to evaluate the financial performance relative to the amount of money that was invested. The ROI is calculated by dividing the net profit by the cost of the investment. The result is often expressed as a percentage. See an example here.27. Individual retirement account (IRA) definition: IRAs are savings vehicles for retirement. A traditional IRA allows individuals to direct pre-tax dollars toward investments that can grow tax-deferred, meaning no capital gains or dividend income is taxed until it is withdrawn, and, in most cases, it’s tax deductible. Roth IRAs are not tax-deductible; however, eligible distributions are tax-free, so as the money grows, it is not subject to taxes upon withdrawals.28. 401k & Roth 401k definition: A 401K is a savings vehicle that allows an employee to defer some of their compensation into an investment-based retirement account. The deferred money is usually not subject to tax until it is withdrawn; however, an employee with a Roth 401K can make contributions after taxes. Additionally, some employers choose to match the contributions made by their employees up to a certain percentage.29. Subchapter S corporation (S-CORP) definition: A form of corporation (that meets specific IRS requirements) and has the benefit of being taxed as a partnership versus being subject to the “double taxation” of dividends with public companies.30. Bonds and coupons (B&C) definition: A bond is a form of debt investment and is considered a fixed income security. An investor, whether an individual, company, municipality or government, loans money to an entity with the promise of receiving their money back plus interest. The “coupon” is the annual interest rate paid on a bond. And if u have any more notes about basic economics of class 11 th u have to provide yet Thanks a lot |
|
| 1284. |
What is creditors and debtors? |
| Answer» A creditor is a term used in accounting to describe an entity (can either be a person, organisation or a government body) that is owed money, as they have provided goods or services to another entity. Sometimes, this entity will charge interest on money borrowed as a way to make money. This could be interest on bank loan repayments or credit card payments.A debtor is a term used in accounting to describe the opposite of a creditor — an individual that owes money, or who is in debt to an organisation or person. For example, a debtor is somebody who has taken out a loan at a bank for a new car. | |
| 1285. |
Sir/mam please provide tests in test series regarding our knowledge.... |
| Answer» Yes.... We want to attempt online test series... | |
| 1286. |
Hi is accounting department have enough knowledge that this generation need. |
| Answer» | |
| 1287. |
Give any three examples of revenues? |
| Answer» Commission , interest and rent received | |
| 1288. |
How to identify the involving parties |
| Answer» | |
| 1289. |
Someone please suggest me best YouTube channel for class 11COMMERCE |
|
Answer» Magnet brains in the best for commerce Best utube channel for commerce is rajat arora.! Best utube channel is rajat arora.... The commerce tutor I\'m also a commerce ? i would prefer CA Parag Gupta is the best youTube channel for commerce. ?.... |
|
| 1290. |
Best online platform for account |
| Answer» CA | |
| 1291. |
What is the income of mr. prem . |
| Answer» Who is mr. Prem | |
| 1292. |
Why asb was formed |
| Answer» It exists to improve existing—and enable new—audit and attestation services, establishing the rules that accountants—professionals responsible for keeping or inspecting financial accounts—are supposed to abide by. | |
| 1293. |
What-is-the-difference-between-goods-and-stock |
| Answer» goods means the objects or items on which the trader trades whereas stock is the bulk of goods kept together usually used in the context- the stock is stored in the warehouse. the goods means item. they have purchase or sale in money is known as goods. stock is that in which goods are kept in emergency. | |
| 1294. |
Give two example of tengible assets |
|
Answer» Its tangible not tengible Furniture,land,machinery,computer etc,. Building, machines |
|
| 1295. |
purchased goods from M/s Eufora vide bill No.912 = which source document will be generated |
| Answer» Please ask question with complete information. | |
| 1296. |
Differentiate between reliability and relevance |
| Answer» The accounting process involves recording, interpreting, classifying, analyzing, reporting and summarizing financial data. Bookkeeping is the process of recording financial transactions. Recording financial transactions is the first part of and the foundation of the accounting process. | |
| 1297. |
Main purpose of accountancy |
| Answer» In order to maintain a systematic record of financial transactions.. | |
| 1298. |
Jajoo bros become insolvent and paid 50paise in a Rupee in full settlement journal entry |
| Answer» | |
| 1299. |
Journalise the following transaction |
| Answer» Sold goods to shruti rupees 80000 at 15% trade discount and 4%cash discount received 75%amount immediately through a cheque | |
| 1300. |
Attributes of accounting? |
| Answer» 1. Maintaining systematic record2. Preparation of financial statements.3. Meeting legal requirements.4. Assistance to management. | |