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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.
| 1601. |
What is defference between accounts and accountancy |
| Answer» Accounting\xa0has different meanings and in one sense refers to the process of keeping or maintaining financial records; while\xa0accountancy, according to OED, specifically refers to the duties(which consists of\xa0accounting,\xa0bookkeeping, auditing, etc.) or profession of an\xa0accountant. | |
| 1602. |
Anybody else can help me in accounts because some topics I can\'t understand ?? |
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Answer» I will help u beacuse i am manglik??? Yes I will help u alone In which time do you reading How Yeah sure:) |
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| 1603. |
Definition of Accountancy. |
| Answer» \'Accountancy\' is the theoretical knowledge of \'Accounting\'.It means accountancy is the knowledge of how to do accounting and accounting is the practical application of accountancy. These words confuse sometimes.Just remember one thing:-Accountancy-Theoretical knowledgeAccounting- Practical application:) | |
| 1604. |
What is the meaning of relevance I can\'t understand anyone else please help me |
| Answer» the quality or state of being closely connected or appropriate. | |
| 1605. |
I really don\'t understand account please help me |
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Answer» Just contact me?? You should watch the videos of Rajat Arora on you tube so . you understand it |
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| 1606. |
How can we prepare accountancy to get ? percentage marks |
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Answer» Yaar koi sa bhi learning app kholo yoh pehle science subjects hi dikhte h!!! Do you know when he attend online classes Thanks Hii Vanshika see the videos of ca parag gupta on youtube.you will definitely score 100/100 |
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| 1607. |
Can I get commerce with 58.6 percentage marks |
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Answer» Thanks ? usha Yes u can take... for commerce it is 55 % only. To take a commerce stream u must have mininium 60% and above |
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| 1608. |
Is commerce difficult? |
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Answer» Tq so much for telling ?? No commerce is not difficult and I think it is related to our real life According to me, commerce stream is not difficult . If you learn all the subjects on time it will be easy. No |
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| 1609. |
Purchased goods from subhash of rupee 12000 on 4th feb 2017 |
| Answer» Purchases a/c dr 12000 to Subhash a/c 12000 | |
| 1610. |
What is the definition of trail balance? |
| Answer» \xa0Trial Balance is the list of debit and credit balances taken out from ledger. “It also includes the balances of Cash and bank taken from the Cash Book”. | |
| 1611. |
Name the receipt which is issued by bank when cheque deposited in bank account |
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Answer» Accounting provides information on A\xa0deposit\xa0slip is a small paper form that a\xa0bank\xa0customer includes when\xa0depositing\xa0funds into a\xa0bank account. A\xa0deposit\xa0slip, by definition, contains the date, the\xa0name\xa0of the depositor, the depositor\'s\xa0account\xa0number, and the amounts being\xa0deposited.\xa0A\xa0bank check, also known (confusingly) as a certified\xa0bank check\xa0or cashier\'s\xa0check, is a\xa0check\xa0that\'s issued and guaranteed by a\xa0bank. When a checking account holder obtains a\xa0bank check, the\xa0bank\xa0removes the specific amount of money from the payer\'s checking account and moves it into a separate account. |
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| 1612. |
is commission paid a nominal account |
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Answer» Yes, commission paid is a nominal account because it is an expense Yes These accounts do not have any existences form or shape. They relate to incomes and expenses or gains and losses of a business concern. Salary Account Commission Account, Rent Account, Discount Account etc. are examples of nominal accounts.Yes, commission paid a nominal account. |
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| 1613. |
What do you mean by revenue |
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Answer» Accounting provides information on The money income which a producer gets from the sale of his product is known as revenue of the firm. It is also called sale proceeds of the firm.\tRevenue of a firm are its money receipts consequent upon the sale of its product.\tThe concept of revenue should not be confused with the concept of profit. Profit of a firm is estimated as the difference between revenue and cost related to the production of a commodity (Profit = Revenue – Cost). |
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| 1614. |
What you mean by nominal account |
| Answer» In accounting, nominal accounts are the general ledger accounts that are closed at the end of each accounting year.A nominal account includes all the accounts of incomes and expenses of a business. Commission received represents an income of the business and is credited to the Profit & Loss A/c, following the rule of nominal account.\xa0 | |
| 1615. |
What are creditors |
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Answer» creditor is a party that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption that the second party will return an equivalent property and services. \tPersons or organisations to whom the firm is liable to pay money are called creditors.\tThey have credit balance to the firm.\tPayments are made to them.\tThey are shown as liabilities in the Balance Sheet under Current Liabilities. |
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| 1616. |
give one transaction in which one liability account increase and other account decrease? |
| Answer» Increase in one liability , decrease in another liability\xa0-\xa0Bills Payable issued to Creditors.i e . , This will reduce one liability ( Creditors ) on the one hand and increase another liability ( Bills Payable ) on the other hand . | |
| 1617. |
Father of accountancy? |
| Answer» Luca Pacioli Fra Luca Bartolomeo de Pacioli (sometimes Paciolo) (1446/7–1517) was an Italian mathematician and Franciscan friar, collaborator with Leonardo da Vinci, and seminal contributor to the field now known as accounting. He was also called Luca di Borgo after his birthplace, Borgo Santo Sepolcro, Tuscany . | |
| 1618. |
7pr=210 find r |
| Answer» 30p | |
| 1619. |
State whether a large order of supply of goods received by the firm be recorded in books. |
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Answer» No because it does not affect the financial position of business No No,\xa0it is not a transaction.Only transactions that results in actual resource flow is recorded. Order receiving will materialise into sales when goods are delivered or handed over to the buyer. So, this thing is not recorded in accounting records, however, it will be entered in sales order book, which is not part of accounting system. |
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| 1620. |
give proper definition of bank reconciliation statement |
| Answer» A bank reconciliation statement is a summary of banking and business activity that reconciles an entity’s bank account with its financial records. The statement outlines the deposits, withdrawals and other activities affecting a bank account for a specific period.Bank Reconciliation Statement 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. The balance mentioned in the bank passbook of the statement must tally with the balance mentioned in the cash book. In the statement, all the deposit will be shown in the credit column and withdrawals will be shown in the debit column. However, if the withdrawal exceeds deposit it will show a debit balance (overdraft). | |
| 1621. |
What is is??? |
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Answer» Kuch bhi???????? Kehna..kya chahti hai..marr jaaun??#aadya singh |
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| 1622. |
What are career options in commerce is there any further scope in it? |
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Answer» no relpys??,! Aap kis class me ho?? Bahut hai bhai sc,sa , and many other net par search kar lo |
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| 1623. |
Under which principal , quality of staff management is not recorded in the books of accounts? |
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| 1624. |
ch 4 journal |
| Answer» | |
| 1625. |
Is studying CA is hard |
| Answer» | |
| 1626. |
Commenced business with cash |
| Answer» CashA/c Dr. To capital A/c | |
| 1627. |
What is marginal utility and explain with example? |
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Answer» Marginal utility refers to additional utility obtained from the consumption of an additional unit of a commodity. To illustrate, if 10th unit yields satisfaction of 100 utils, while 11th unit yields satisfaction of 105 utils, then marginal utility derived from the 11 th unit is 5 utils. Marginal utility theory\xa0examines the increase in satisfaction consumers gain from consuming an extra unit of a good. The utility\xa0is an idea that people get a certain level of satisfaction/happiness/utility\xa0from consuming goods and service.\xa0In economics,\xa0utility\xa0is the satisfaction or benefit derived by consuming a product; thus the\xa0marginal utility of a good\xa0or service is the change in the\xa0utility\xa0from an increase in the consumption of that\xa0good\xa0or service. |
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| 1628. |
How to prepare accounting equation |
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| 1629. |
What is the functions of book keeping |
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Answer» To record the transactions in daily basis in a systematic way in a way of a art Bookkeeping is the activities concerned with the systematic recording and classification of financial data of an organization in an orderly manner. It is essentially a record-keeping function done to assist in the process of\xa0accounting. It is a key component in forming the financial statements of the organization at the end of the financial year.Bookkeeping also concerns itself with the classification of financial transactions and events. Such classification of transactions is essential to maintain proper financial accounts. It also involves preparing source documents for the financial transactions and other\xa0business\xa0operations being carried out.There are many methods of book-keeping. The most common ones are the\xa0double-entry\xa0system and the single-entry system. But even methods other than these, which involves the process of recording financial transactions in any manner are acceptable book-keeping systems or processes. |
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| 1630. |
Accounting circle chart |
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| 1631. |
rajan commenced business by introducing capital in cash 11000 rupees and by cheque 1,50,00 |
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| 1632. |
Is now gst is added in ch 8 journal |
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Answer» Yes yes |
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| 1633. |
Goods purchase for rs 20000 pass the journal entry |
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Answer» Purchases a/c dr. Purchase A/c Dr. 20000 To cash A/c. 20000(Being goods puchased) |
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| 1634. |
What do u mean by accountancy . And how its work on business works . |
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Answer» accountancy is the process of identifying the business transactions , measuring them , recording ,. classification , summarising and interpretation and communicationit helps the management in manking decision. Thnx mam Accounting is a process of identifying the events of financial nature, recording them in Journal, classifying in their respective ledgers, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information,\xa0viz.\xa0owner/s, government, creditors, investors etc.According to the\xa0American Institute of Certified Accountants, 1941, “Accounting is an art of recording, classifying and summarising in a significant manner and in terms of money transactions and events that are, in part at least, of a financial character and interpreting the results thereof.” |
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| 1635. |
Can capital be negative? If yes then explain |
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Answer» Ok Nhi toh 1 bje Ruko message krti hu... Agr online hue toh abhi bula leti hu Abhi hi bula lo Hnji ishu bolo |
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| 1636. |
Asset =10000,liabilities=20000,capital? |
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Answer» Isme capital h hi nhi unke pass unhe paise dene hUnke pas positive balance nhi h But how capital can be negative?? Kudh k question ka kudh hi ans. ? Capital =-10000 |
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| 1637. |
Still waiting...... |
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Answer» Single life is best life Pubg...tum....lakshay ho? I am single ?????koi gf nhi hai...??i mean......from last 6 months?? basss Samaj jao For what? |
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| 1638. |
Class 11th Chapter 10 cash book QuestionNo. 13,14,15 |
| Answer» | |
| 1639. |
Define assets |
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Answer» Kl aa jaegi ...... Jo ki confirm h ki tum lakshay hi ho Vo is app pr kl tk aa jaegi... If u r lakshay thn she will talk to u.... The economic value of an item which is possessed by the enterprise is referred to as Assets. To put it in other words, assets are those items that can be transformed into cash or that generates income for the enterprise shortly. It is useful in paying any expenses of the business entity or debt. |
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| 1640. |
What massage...... |
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Answer» As ur wish when u know my name who m I then u can tell me..... Vo lakshay se pyar krti h tumse nhi toh m tumhe kiu btau? Pir message kiu btau tumhe? Pta nahi yr Tum lakshay ho? |
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| 1641. |
Accountancy........ |
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Answer» Kya message ha batao Bolo if u r lakshay tumhare lie ek message h Pta nahi ? Oi... Vo hmari bff h... Hamari usse roz bat hoti h.... Or agr m glt nhi ho to tum lakshay ho |
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| 1642. |
How to calculate income on basis of acrual basis? |
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| 1643. |
Please start insulation of dk goel book also |
| Answer» | |
| 1644. |
Accounting equation of INTEREST DUE BUT NOT RECEIVED 500 |
| Answer» accrued interest a/c. Dr. 500 to interest a/c. 500 | |
| 1645. |
Opening capital=175000Drawings=50000Profit Or Loss=20000Closing capital=182500Additional Capital=? |
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Answer» additional capital is 37,500 Use the formula:additional capital= closing capital + drawings + loss - profit - Opening capital |
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| 1646. |
A journal is called a book of? |
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Answer» orignal entry Original entry |
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| 1647. |
Characteristics of accountancy ? |
| Answer» Following attributes or characteristics can be drawn from the definition of Accounting:(1) Identifying financial transactions and events\tAccounting records only those transactions and events which are of financial nature.\tSo, first of all, such transactions and events are identified.(2) Measuring the transactions\tAccounting measures the transactions and events in terms of money which are considered as a common unit.(3) Recording of transactions\tAccounting involves recording the financial transactions inappropriate book of accounts such as Journal or Subsidiary Books.(4) Classifying the transactions\tTransactions recorded in the books of original entry – Journal or Subsidiary books are classified and grouped according to nature and posted in separate accounts known as ‘Ledger Accounts’.(5) Summarising the transactions\tIt involves presenting the classified data in a manner and in the form of statements, which are understandable by the users.\tIt includes Trial balance, Trading Account, Profit and Loss Account and\xa0Balance Sheet. | |
| 1648. |
harsha started business with cash rupees 200000 |
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Answer» cash a/c. Dr. 2,00,000 To capital a/c. 2,00,000 Hello |
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| 1649. |
Why is accountancy historical in nature |
| Answer» The\xa0history\xa0of\xa0accounting\xa0is as old as civilization, key to\xa0important\xa0phases of\xa0history, among the most\xa0important\xa0professions in economics and business, and fascinating. ... Industrial Revolution firms required\xa0accountants\xa0to provide the information\xa0necessary\xa0to avoid bankruptcy and their role developed into a profession.\xa0The primary\xa0function\xa0of\xa0accounting\xa0relates to recording, classification and summary of financial transactions—journalisation, posting, and preparation of final statements. These facilitate to know operating results and financial positions. | |
| 1650. |
Objectives of accounting |
| Answer» To keep systematic record of bussines | |