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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.
| 1651. |
Difference Between assets and goods |
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Answer» Asset means the profit gained by an organisation Asset mean jaise ki kisi job me profit hua aur good mean accha Asset mean Kiska profits futures me mile Aur good mean samaan Goods are bought for the purpuse of sale but assets are always with is (i) Goods are purchased for resale whereas assets are held for continued use in the business.(ii) Goods are alwasys tangible i.e., they can be seen and touched whereas assets may be both tangible and intangible. |
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| 1652. |
Tangible and intangible assest |
| Answer» Tangible Asset-These are assets in which we can see and touch it..Intangible Asset-These are assets in which we cannot see and touch it..HOPE ITS HELP YOU..Can you tell answer of my question..My question is-write a note making on the summer of the beautiful white horse..Plz help me.. | |
| 1653. |
What is mean by entity |
| Answer» Entity:\xa0Entity means a reality that has a definite individual existence.Business entity:\xa0It\xa0means a specifically identifiable business enterprise like Super Bazaar, Hira\xa0Jewellers, ITC Limited, etc. An accounting system is always devised for a specific\xa0business entity (also called accounting entity). | |
| 1654. |
Opened a current account in bank Rs 120000.what is entry |
| Answer» We add 120000 in Cash at Assets and in Capital.. | |
| 1655. |
Explain the difference between asset and expenses |
| Answer» \tAssets and expenses are very different elements of the financial statements of an entity. Assets are any resource that is owned or controlled by an entity and gives value to the entity either by aiding production of goods/services or by having a fixed monetary realization . Also most assets appear in the Balance sheets for a comparatively longer period.They also suffer diminution in value (except certain assets) Eg. Building, Debtors.\tExpenses on the other hand are usually outflows of cash of an enterprise in order to obtain an asset or settle a liability. Expenses mostly appear in the Financial Statements in the year they\'re incurred (except capital expenditure and deferred revenue expenditure).It can also be defined as the cost of doing business. | |
| 1656. |
What is meaning of book keeping |
| Answer» Book keeping is art of recording business dealings in set of books | |
| 1657. |
what is stock and inventory with difference between also? |
| Answer» Inventory\xa0(American English) or\xa0stock\xa0(British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair). In the context of services,\xa0inventory\xa0refers to all work done prior to sale, including partially process information.\xa0Inventory\xa0is the collection of unsold products waiting to be sold.\xa0Inventory\xa0is listed as a current asset on a company\'s\xa0balance sheet.\xa0 | |
| 1658. |
Give the meaning of accounting? |
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Answer» Accounting is a process of recording summarising classify Economic information and community financial information to tha user judgment and decision making this is a accountancy Accounting is the process of recording summarising classifying the economic information and communicating financial information to the users for judgement and decision making. |
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| 1659. |
Give the meaning ofAccounting |
| Answer» Accounting\xa0is the process of recording financial transactions pertaining to a business. The\xa0accounting\xa0process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.\xa0Accounting\xa0is the process of systematically recording, measuring and communicating information about financial transactions. The\xa0three\xa0major financial statements produced by\xa0accounting\xa0are the profit and loss statement, the balance sheet and the cash flow statement.\xa0There are mainly\xa0three types of accounts\xa0in\xa0accounting: Real, Personal and Nominal\xa0accounts, personal\xa0accounts\xa0are classified into\xa0three\xa0subcategories: Artificial, Natural, and Representative. | |
| 1660. |
Journalise Sold personal car for 18000rupees & furniture 10000 |
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| 1661. |
How to check is my journal entry correct or wrong |
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| 1662. |
Tarun started business with cash 100000Goods purchase 20000 |
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| 1663. |
Afzal started bussines with stock rupees40, 000 and furniture rupees10, 000 |
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| 1664. |
Give me notes of 1 2 3 chapter |
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| 1665. |
Journalise the following transactions in books of kanishk traders |
| Answer» ?????? | |
| 1666. |
1a. Define Partnership at will.b. Diff b/w Fixed Period Partnership and Particular Partnership |
| Answer» 1 a. When the partner can take back his support from the firm on his own will ( whenever he wishes ) a partner can join or leave a firm any time means partnership at will. | |
| 1667. |
when the partnership is silent about the IOC then it changes against profit |
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| 1668. |
state any six users of accounting information by do they need accounting information |
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Answer» Am i right sir actually i am a beginner of accounts Users of accounting information are internal and external. External users are creditors, investors, government, trading partners, regulatory agencies, international standardization agencies, journalists and internal users are owners, directors, managers, employees of the company. |
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| 1669. |
What is financial marketing |
| Answer» financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, and precious metals.? | |
| 1670. |
Which type of assets is cash in hand? |
| Answer» Assets are three types 1-non-current2-current3-ficitious | |
| 1671. |
Give two examples of transactions which are not recorded in accounting...?? |
| Answer» 1.Change in bank details. 2. change in address of creditors. | |
| 1672. |
You had not provide notes for all chapter |
| Answer» Yes... | |
| 1673. |
I have a wks how can i attach that? |
| Answer» | |
| 1674. |
Definition of reserve and provision |
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| 1675. |
Write down any ten financial transactions |
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| 1676. |
What is the matching concept |
| Answer» the revenue recognition principle states that revenues should be recorded during the period in which they are earned, regardless of when the transfer of cash occurs. | |
| 1677. |
Accounts starts,where book keeping ends? Explain |
| Answer» Book-keeping to Accounting | |
| 1678. |
treatment of development rebate Reserve in Cash flow statement |
| Answer» | |
| 1679. |
gandhiraj Ltd issued 75000 shares of 100 each as payable is 25 on application (1st April 2017). |
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| 1680. |
Definition of business transaction and events |
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| 1681. |
Explain the origin of ancient olympic games |
| Answer» | |
| 1682. |
Main difference between IFRS AND IAS |
| Answer» International Accounting Standard (IAS) and International Financial Reporting Standard (IFRS) are the same. The difference between them is that IAS represents old accounting standard, such as IAS 17 Leases . While, IFRS represents new accounting standard, such as IFRS 16 Leases. | |
| 1683. |
Explain accounting cycle in detail |
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Answer» Identification, measuring,recording, classifying,summarzing, analysis & interpreting, communication Recording; classifying amd summarising are known as accounting cycle |
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| 1684. |
Hello anyone online |
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| 1685. |
Prakash a farmer went to the market and exchanged his rice with pulses it is an economic activity? |
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Answer» No Because economic activity involves money It can be |
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| 1686. |
Paid salary to ram journal entry? |
| Answer» Salary a/c .......dr To cash a/c | |
| 1687. |
Hii? |
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Answer» Hii Hey all? |
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| 1688. |
What kind of transaction are recorded in cash book |
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Answer» Business Transactions Cash book shows all the transactions related to cash receipts and payments. Cash Book serves two purposes. First, all the cash transactions are recorded first time in cash book it becomes BOOK OF ORIGINAL ENTRY. Second, there is no need to prepare Cash a/c in ledger it also play the role of Principal Book. |
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| 1689. |
Which of the following is shown in the trail balance |
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| 1690. |
Write a detailed comparison between mannul accouting and computer accouting |
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| 1691. |
Give a formula to calculate the cost of goods sold |
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Answer» Closing stock = opening stock + purchase - purchase return + manufacturing expenses- closing stock Net sales minus gross profit |
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| 1692. |
What is tha dep of 52000 |
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| 1693. |
strike by employees is a financial character |
| Answer» No it\'s not finencial character | |
| 1694. |
Most important questions of accountancy class 11 for final exam |
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Answer» Single entry system . Adjustmemt of final a/c.. Deprisation and Bill of exchange |
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| 1695. |
Sale of typewriter that has been used in the office should be credited to |
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Answer» Office equipment Office equipment account/ typewriter account |
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| 1696. |
How is net loss calculated? |
| Answer» Net loss us calculated by Net loss= opening stock + purchases + direct expenses - closing stock | |
| 1697. |
Ch-14 |
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| 1698. |
Cash in bank 100000 and bank overdraft is 250000 in accounting equation tell me the total capital |
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Answer» Cash in bank is assets Bank overdraft is liabilityThen Capital = liability - assets = 250000 - 100000 = 150000 0 |
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| 1699. |
Meaning of general journal |
| Answer» Journal is a book of primary entry or a book of original entry in which transaction is firstly recorded in a chronological order | |
| 1700. |
Which of the following is not a limitation of acconting |
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