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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.
| 1701. |
What is legal expenses |
| Answer» Legal expenses or basically expenses in nature are income statement or profit and loss account. Usually legal expenses are classified as professional fees under general and administrative expenses on income statement/profit and loss. | |
| 1702. |
One sides error are corrected through _account |
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Answer» supense A/C ma nahi bataunga? Drawer |
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| 1703. |
Noting charges account is debited by |
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Answer» drawee Drawer |
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| 1704. |
Differentiate between single entry system and double entry system |
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Answer» \tSr. no.BasisDouble Entry SystemSingle Entry System\xa01Aspects of Transactions\xa0\xa0It considers both aspects of a particular transaction.It does not necessarily considers both the aspects of a transaction. It may consider one or may not consider any of the aspects of a transaction. \xa02\xa0Type of Accounts\xa0It maintains all 2 types of accounts namely, real, nominal and personal accounts.\xa0It maintains details and records of personal accounts\xa0only\xa0along with Cash book to record all cash transactions.\xa03\xa0Trial balance\xa0It requires preparation of Trial Balance which identifies arithmetic accuracy of the records maintained.\xa0It is an incomplete system of accounting which and therefore, it does not provide complete details to prepare a Trial Balance.\xa04\xa0Profit and Loss\xa0It facilitates ascertainment of profit or loss with the help of profit and loss account.\xa0It does not maintain complete details of the transactions and therefore, it is difficult to prepare a particular statement which will determine profit or loss.\xa05\xa0Financial Position\xa0It facilitates preparation of balance sheet which shows the financial position of the entity.It is difficult to ascertain the financial position of the entity as balance sheet is not prepared. \xa06\xa0Adjustments\xa0It takes into consideration all the adjustments at the tiime of preparing the financial statements of the entity.\xa0It is an incomplete system of accounting and hence, there is no provision to make adjustments.\xa0\t Differentiate between single entry system and double entry system |
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| 1705. |
What is money measurement |
| Answer» Money Measurement : The concept of money measurement states that only those transactions and happenings in an organisation, which can be expressed in terms of money are to be recorded in the book of accounts. Also, the records of the transactions are to be kept not in the physical units but in the monetary units. | |
| 1706. |
Class 12 one mark questions |
| Answer» | |
| 1707. |
Edition 2019 account chapter 19 question 4 |
| Answer» Meaning of accountancy | |
| 1708. |
Why is depreciating not charged on land |
| Answer» | |
| 1709. |
Difference between trade and cash discount |
| Answer» Trade discount is a discount which is provided by the seller to quickly sell their goods. And cash discount is a discount which is provided by seller when the customer is about to pay the money for the goods.Note: we don\'t have to record trade discount just calculate the sum and write it down but but in cash discount we have to record entries. | |
| 1710. |
If opening stock is not given how to fing gross profit in trading account |
| Answer» In case of opening stock is not givenAdjusted purchase are given and Adjuste purchase=opening stock + Net purchase - closing stock | |
| 1711. |
How to solve Depreciation |
| Answer» | |
| 1712. |
Easy way to make journal |
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Answer» Follow morden rules Follor morden rules |
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| 1713. |
Consumer equilibrium kya hota hai |
| Answer» ????? | |
| 1714. |
what is double entry system? |
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Answer» Kya rehan Double Entry System of accounting deals with either two or more accounts for every business transaction. For instance, a person enters a transaction of borrowing money from the bank. So, this will increase the assets for cash balance account and simultaneously the liability for loan payable account will also increase. |
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| 1715. |
Plz tell me all adjustment entries in financial statement |
| Answer» Follow on instagram @imrealyash for queries | |
| 1716. |
11 class TS Geraval chpter 12 |
| Answer» | |
| 1717. |
Payment made to creditors in full settlement ₹17500 |
| Answer» Creditors ac dr.To cash To discount received. | |
| 1718. |
Name the transactions...which...we can entered in journal proper..?? |
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Answer» Transactions that cannot recorded in:-Cash bookPurchase bookSales bookSales return bookPurchases return book Rate of depreciation and opening entry |
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| 1719. |
Name two popular accounting software available in the market |
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Answer» Tally and excel Have you any modal test paper,of dps Bhai ye question apne kaha se diya hai Excel and tally |
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| 1720. |
What is debenture ? |
| Answer» It is the liability with a fixed interest that are to be compulsory paid. | |
| 1721. |
Diff. B/w total assets and external liability is net worth ,,,,,true or false ,,,,,,,,,,,, |
| Answer» What is debentures | |
| 1722. |
Plzz help me ,,plzz solved my questions |
| Answer» Whats ur question | |
| 1723. |
On monday,,my 1 exam accountancy |
| Answer» | |
| 1724. |
My annual exam is started |
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Answer» My exam started on 2 march All the best |
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| 1725. |
What is asset disposal account |
| Answer» Asset disposal ac is made in order to record sale of an asset. On sales date, the amount received by sales and profit or loss on sales of asset is recorded in this particular account. | |
| 1726. |
Chapter 10 question no. 6 |
| Answer» Gave the name of chapter. | |
| 1727. |
What is the relationship between accountancy, accounting and book keeping |
| Answer» Read the book ,,, | |
| 1728. |
What is the relationship between accountancy, accounting and book-keeping? |
| Answer» Read the book | |
| 1729. |
Which principle is ignored under single entry but followed in double entry system? |
| Answer» Dual aspects | |
| 1730. |
Important ch |
| Answer» you can learn journal,depreciation, bill of exchange and final account. | |
| 1731. |
Book keeping is a ___ stage in accounting |
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Answer» Primary First |
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| 1732. |
Book keeping is a ____ stage in accounting |
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Answer» Primary Primary |
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| 1733. |
income tax paid for the proprietor is debited to .........................a/c. |
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Answer» Thnx Drawing Drawings Drawing a/c What is it? Pßl |
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| 1734. |
Purchase book records only .............purchase of good. |
| Answer» Credit | |
| 1735. |
In which of the following assets depreciation is charged |
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Answer» Thnx dear Fixed asset |
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| 1736. |
The closing balance of the petty cash book is ................ . |
| Answer» | |
| 1737. |
Expalin the principle of historical cost |
| Answer» | |
| 1738. |
What is mat hing concept |
| Answer» All the costs incurred during a particular period should be charged to revenue of that period for determining the net profits. | |
| 1739. |
What is a balance sheet |
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Answer» Balance sheet is a financial statement prepared at the end of the year to know about the financial position of the business. A balance sheet is a financial sratement prepared at the end of the financial year.It signify that assets and liabilities are equal. |
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| 1740. |
Nandu sold goods to basu for rs 4000 and basu |
| Answer» Gave me the complete question. | |
| 1741. |
Mohan started a business on 1 april 2018 with a capital of 10000 and borrowed 3000 from a friend |
| Answer» | |
| 1742. |
Contraenteries on debit side of cashbook is posted to which side of cash account ? |
| Answer» Debit side | |
| 1743. |
Withdrawn goods for personal use cost [email\xa0protected]% sale price rs.7000 |
| Answer» | |
| 1744. |
Difference between double entry and book keeping |
| Answer» Double entry system refers to a system of accounting in which every transaction affects atleast two accounts simultaneously.one of them is debited and other is credited. On the other hand book keeping is an art of recording buainess dealing in a set of books.book keeping is primary stage . | |
| 1745. |
Bill of exchange theory question no 10 to 19 |
| Answer» Bill of exchange is a written document which is signed by the maker to pay the certain sum of money | |
| 1746. |
What is debit item |
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Answer» Debit - What is a debit? | Debitoor invoicing software The debit falls on the positive side of a balance sheet account, and on the negative side of a result item. In bookkeeping, a debit is an entry on the left side of a double-entry bookkeeping system that represents the addition of an asset or expense or the reduction to a liability or revenue. What is debit item |
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| 1747. |
From incomplete records, it is possible to prepare?what is that? |
| Answer» Statement of affairs | |
| 1748. |
Adjustment of insurance in p/l account |
| Answer» Dr side of p and l | |
| 1749. |
Important topic |
| Answer» | |
| 1750. |
Purchase book record only ___________ purchase of goods |
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Answer» Credit Credit Credit Credit |
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