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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.
| 1401. |
Explain A=C+L |
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| 1402. |
apke exams ho gye kya Deepak bro??✌ |
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| 1403. |
What is a cash voucher |
| Answer» A cash voucher is prepared for cash purchases or sales. It serves as the source document to record entries in the cash book. | |
| 1404. |
Pls explain general entries in accountants |
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| 1405. |
I need project for accounts |
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| 1406. |
Analytic cash book practical problems solution |
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| 1407. |
Journal and it\'s posting |
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| 1408. |
2.9 |
| Answer» ??❓❓ | |
| 1409. |
Describe and prepare the specimen of source document and voucher? |
| Answer» \tBasis of DifferenceSource DocumentsVouchersMeaningIt refers to the documents in writing, containing the details of events or transactions.When source document is considered as evidence of an event or transaction, then it is called voucher.PurposeIt is used for preparing accounting vouchers.It is used for analysing the transactions.RecordingIt acts as a basis for preparing accounting voucher that helps in recording.It acts as a basis for recording transactions.PreparationIt is prepared at the time when an event or a transaction occurs.It can be prepared either when an event or a transaction occurs, or later on.Legality/ValidityIt can be used as evidence in the court of law.It can be used for assessing the authentication of transactions.Prepared ByIt is prepared by the persons who are directly involved in the transactions, or who are authorised to prepare or approve these documents.It is prepared by the authorised persons or by the accountants.ExamplesCash memo, invoice, and pay-in-slip, etc.Cash memo, invoice, pay-in-slip (if used as evidence), debit note, credit note, cash vouchers, transfer vouchers, etc.\t | |
| 1410. |
Class 11 accounts project 25 transactions |
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| 1411. |
purchased goods for cash 28000 |
| Answer» Purchase A/c. Dr 28000 To cash A/c 28000 | |
| 1412. |
Name any two external users of accounting information?..? |
| Answer» Any two of these : Potential investors, creditors, lenders, employee unions, customers, government etc. | |
| 1413. |
Format of partner capital account...... |
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| 1414. |
Make journal entry and accounting equation from the following transaction |
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| 1415. |
Which accounts are not considered while preparing the trial balance❓? |
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Answer» Closing stock is not considered while preparing the trial balance.because it is assumed that closing stock is already included in purchases and opening stock. Pta nhi? |
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| 1416. |
Solve this question sec^2x + cos^2x _> 4 |
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Answer» Perfect yrr How are you Hey... |
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| 1417. |
Is anyone here????? |
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Answer» Yes,hi Yesss Hi Hey |
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| 1418. |
Gud ? divya aati h kya is group me |
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Answer» What r u doing n u also belong from Haryana U know me Don\'t know |
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| 1419. |
FULL FORM OF GAAP |
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Answer» Generally Accepted Accounting Principles Koi na Generally Accepted Accounting principles...sorry accounting likhna yaad nhi rha..? GAAP- Generally Accepted Principles...? |
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| 1420. |
2.\tThe uniform set of rules which ensure uniformity and understandability is known as …………….. |
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Answer» Gaap Accounting principles |
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| 1421. |
Different between With Adjustment and Without Adjustment |
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| 1422. |
Purchase building anf furniture for 100000 |
| Answer» What is your question exactly?? ? | |
| 1423. |
What is journal proper?? |
| Answer» Journal proper\xa0is book of original entry (simple\xa0journal) in which miscellaneous credit transactions which do not fit in any other books are recorded. It is also called miscellaneous\xa0journal. The form and procedure for maintaining this\xa0journal\xa0is the same that of simple\xa0journal.\xa0Books with original entries used for miscellaneous credit transactions that do not fit into other recorded books. The\xa0journal\xa0is maintained like a simple\xa0journal\xa0to record opening entries, closing entries, transfer entries, adjustment entries, rectification entries, and rare transactions. | |
| 1424. |
January 1 cash in hand 6000 rupeesBank balance |
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| 1425. |
Cash in handBank Balance (cr) |
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| 1426. |
What is meaning of from? |
| Answer» Please ask question with complete information. | |
| 1427. |
Give differenc between ledger and journal |
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Answer» \tJournalLedgerIt is the original bookIt is the book of final entryIt is the book for chronological order entryIt is the book for analytical record entryIt is the book of source entry which has greater legal evidenceIt has lesser legal evidenceTransaction is the basis of classification of data within the journalAccount is the basis of classification of data within the ledger\t Hi |
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| 1428. |
Classify the following under personal ,real or nominal accounts1.commission paid 2.bank overdraft |
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| 1429. |
If paid rent in 10000 rat paid in advance |
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| 1430. |
2 Maruti Car is |
| Answer» Unga ayya | |
| 1431. |
Accounting equation per numerical |
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| 1432. |
What is managenent accounting |
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Answer» Thank you meghna?? Management accounting\xa0helps\xa0managers\xa0within a company make decisions. Also known as cost\xa0accounting,\xa0management accounting\xa0is the process of identifying, analyzing, interpreting and communicating information to\xa0managers\xa0to help achieve business goals.\xa0In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.\xa0 |
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| 1433. |
When an account is said to have a credit balance...??? |
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Answer» Thanks ? An account is said to have a credit balance if the total of its credit side is more than the total of its debit side. |
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| 1434. |
When an account is said to have a debit balance...?? |
| Answer» A debit balance is an account balance where there is a positive balance in the left side of the account. Accounts that normally have a debit balance include assets, expenses, and losses. Examples of these accounts are the cash, accounts receivable, prepaid expenses, fixed assets (asset) account, wages (expense) and loss on sale of assets (loss) account. Contra accounts that normally have debit balances include the contra liability, contra equity, and contra revenue accounts. An example of these accounts is the treasury stock (contra equity) account. | |
| 1435. |
Why we can\'t record computer in stationery items in purchase book record |
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| 1436. |
active blunt and circle with Capitals of 450000 |
| Answer» Active blunt end circle started a business on 1st April 2017 with capital of 450000 6 lakh and 350000 according to partnership agreement: (1) profit earned in any year will be distributed as under: Up to 270000-equally Excess over 270000-one-half to active,one sixth to blunt and one third to circle (2)provide interest on capital and drawing @6%p.a. (3)circle is entitled to get a monthly salary of 4000 and Bullet is entitled to get a monthly salary of 6000 in addition to above circle and blunt are entitled to get a commission of 5% each on net of profit after taking into consideration the interest and all commissions Drawing of partners during the year were: Active withdrew regularly 5000 at the beginning of every month Blunt withdrew regularly 7000 at end of every month Circle withdrew 80000 during the year Profit for the year 593120 prepare partners current account. Is it helpful | |
| 1437. |
What are contra entries? |
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Answer» A\xa0contra entry\xa0is recorded when the debit and credit affect the same parent account and resulting in a net zero effect to the account. These are transactions that are recorded between cash and bank accounts....,Hope it helps.. \xa0Contra entry is a transaction which involves both cash and bank. Both debit aspect and credit aspect of a transaction get reflected in the cash book. For example:\tCash received from debtors and deposited into bank\tCash withdrawn from bank for office use |
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| 1438. |
Received cash Varun sattlement 59000 |
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| 1439. |
What Going Concern Assumption ??.. |
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Answer» The going concern principle is the assumption that a business will continue to exist in the near future, in other words, that it will not liquidate or be forced out of business......,Hope it helps... Going Concern Assumption :This concept assumes that an enterprise has an\xa0indefinite life or existence.\xa0It means that the intentions of the business are to continue for sufficiently longer period of time. It will not be dissolved or liquidated in the immediate future. If a machinery purchased is expected to last (to be used for) next 10 year, then the cost of machinery will be spread over the next 10 year for calculating net profit or loss of each year (Dep. Charged.)The full cost of the machine would not be treated as expense in the year of purchase itself.\xa0Market value of the asset is irrelevant\xa0and is\xa0not recorded in the balance sheet,\xa0as these assets are not going to be sold in the near future. |
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| 1440. |
How many in the accounts and which one is deleted |
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Answer» Click on given link for class 11Revised Academic Electives - (Group-A)\tREVISED - Accountancy On July 7, HRD Minister Ramesh Pokhriyal announced a major CBSE syllabus reduction with 30% of the syllabus slashed for the year 2020-21 for classes 9 to 12 because of the reduction in classroom teaching time due to the Covid-19 pandemic and lockdown.CBSE has rationalized the syllabus with the help of suggestions from NCERT and the same has been notified by a new CBSE notification as well.Deleted syllabus of CBSE Class 12 Accountancy\xa0 |
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| 1441. |
Bills of exchange class 11 solutions back question |
| Answer» Just download ts grewals app for solutions? | |
| 1442. |
Sold goods costing 5000 at loss of 500 in cash |
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Answer» Cash A/c dr. 4500Loss on sale A/c dr 500To sales A/c 5000 bank A/c. Dr. 4500loss on sale A/c. dr. 500 To sales A/c. 5000 |
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| 1443. |
Distinguish between debtors and creditors ;profit and loss |
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| Answer» | BASIS FOR COMPARISON | DEBTORS | CREDITORS | \t\t\tMeaningDebtors are the parties who owes debt towards the company.Creditors are the parties to whom the company owes a debt.What is it?It is an account receivable.It is an account payable.StatusAssetsLiabilitiesDiscountAllowed to debtors.Received from creditors.Derived fromTerm \'debere\' of Latin language which means \'to owe\'.Term \'creditum\' of Latin language which means \'to loan\'.Provision for doubtful debtsCreated on debtorsNot created on creditors.\t|
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| 1444. |
Show the accounting equation for the following transation Gobinath start business with cash |
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| 1445. |
Paid in to bank |
| Answer» Bank A/C dr Cash A/C cr | |
| 1446. |
Define brs |
| Answer» Bank Reconciliation Statement(BRS) is a record book of the transactions of a bank account. This statement helps the account holders to check and keep track of their funds and update the transaction record that they have made. Bank Reconciliation statement is also known as bank passbook. | |
| 1447. |
Difference between loss and expense?5 points |
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Answer» If the benefit of an expenditure is exhausted within a year it is called expense whereas excess of expenses of a period over it\'s related revenues is termed as loss Loss is a decrease in net incom that is outside the normal operations of the business.For example, if a person buys some goods fot 1000 rs and due damage in some goods he sells them all to a retailer for 950 rs.An expense is a cost used up in earning revenues in a company\'s main operations. ... Expenses also include costs used up during the accounting period such as interest expense, insurance expense, and depreciation expense.For example a soap company spends money for the advertisement of the product to attract customers and earn profit. \tBasis of\xa0DifferenceLossesExpensesMeaningThe amount that is left after the deduction of total expenses from the total revenue of the particular period.Expenses mean the amount spent by the business for running the business operation. The expenses are also known as Revenue Expenditure.Method of Calculation\xa0“Loss = Revenue – Expenses & losses” (If the amount of Expenses is more)Total the all expensesDependency on Each otherIt is dependent on Expenses. if expenses more then a loss is more and vice versa. It is not dependent on loss.Categories Gross LossOperating LossNet LossDirect Expenses\xa0Indirect ExpensesNeed to calculate\xa0Calculation of the total amount of losses is needed to know the performance of the businessCalculation of the total amount of Expenses is needed to know the profit or losses of the business for a particular period.\t |
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| 1448. |
Please accountancyCBSEq*a |
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| 1449. |
Who are the users of accounting information? |
| Answer» Users may be categorised into internal users and external users.(A) Internal Users\tOwners: Owners contribute capital in the business and thus they are exposed to maximum risk. So, they are always interested in the safety of their capital.\tManagement: Accounting information is used by management for taking various decisions.\tEmployees: Employees are interested in the financial statements to assess the ability of the business to pay higher wages and bonus.(B)\xa0External Users\tBanks and financial institutions:\xa0Banks and Financial Institutions provide loans to business. So, they are interested in financial information to ensure the safety and recovery of the loan.\tInvestors:\xa0Investors are interested to know the earning capacity of business and safety of the investment.\tCreditors:\xa0Creditors provide the goods on credit. So they need accounting information to ascertain the financial soundness of the firm.\tGovernment:\xa0The government needs accounting information to assess the tax liability of the business entity.\tResearchers:\xa0Researchers use accounting information in their research work.\tConsumers:\xa0They require accounting information for establishing good accounting control, which will reduce the cost of production. | |
| 1450. |
Describe any three advantages of computerised accounting system. |
| Answer» improves\xa0efficiency\xa0-this\xa0system\xa0is\xa0more\xa0efficient\xa0in\xa0comparison\xa0to\xa0the\xa0traditional\xa0system\xa0.\xa0the\xa0computers\xa0make\xa0sure\xa0speed\xa0and\xa0accuracy\xa0in\xa0preparing\xa0the\xa0records\xa0and\xa0accounts\xa0and\xa0thus\xa0increases\xa0the\xa0efficiency\xa0of\xa0employees.Greater\xa0accuracy-computerised\xa0accounting\xa0make\xa0sure\xa0accuracy\xa0in\xa0accounting\xa0records\xa0and\xa0statements\xa0.\xa0it\xa0prevents\xa0clerical\xa0errors\xa0and\xa0omissions\xa0in\xa0records.facilities\xa0standardizationcomputerised\xa0accounting\xa0provides\xa0standardization\xa0of\xa0accounting\xa0routines\xa0and\xa0procedures\xa0.\xa0therefore\xa0it\xa0ensure\xa0standardization\xa0in\xa0the\xa0accounting\xa0records. | |