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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.
| 1851. |
Language syntax is checked by software called as _____________ |
| Answer» Language processor | |
| 1852. |
How to rectify error |
| Answer» We can rectity our errors by passing rectifying entry in books of accounts. | |
| 1853. |
Explain the types of financial statements |
| Answer» | |
| 1854. |
should a transaction be first recorded in journal or ledger why |
| Answer» A transaction should be recorded first in a journal because journal provides complete details of a transaction in one entry. Further, a journal forms the basis for posting the transactions into their respective accounts into ledger. Transactions are recorded in journal in chronological order, i.e. in the order of occurrence with the help of source documents. Journal is also known as ‘book of original entry’, because with the help of source document, transactions are originally recorded in books. The process of recording the transactions in journal and then in ledger is presented in the below given flow chart. | |
| 1855. |
Trial balance ledger jounal p&l and balance sheet |
| Answer» | |
| 1856. |
How to calculate gross profit |
| Answer» Gross Profit= Net sales- Cost of Good soldNet sales= Total sales- Sales ret.Cost of good sold= opening stock + (purchase-ret)+ direct exp- closing stock | |
| 1857. |
project of accounts |
| Answer» | |
| 1858. |
Accounts project with gst |
| Answer» | |
| 1859. |
Asad statement of missing figure |
| Answer» | |
| 1860. |
Ascertainment of missing figures |
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Answer» Dhr From the following information calculate the amount to be paid to credi |
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| 1861. |
Journal entry of purchase sports wear from delhi IGST 12%........amount. 15000 |
| Answer» | |
| 1862. |
mr. tushar decided to start computer bussiness |
| Answer» | |
| 1863. |
Please help me to prepare comprhensive project of accountancy |
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Answer» For preparing a project you should search on chrome and you can write , project on accountancy? Or pk kaisa hai |
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| 1864. |
30 transactions with their vouchers journals ledger and trial balance |
| Answer» | |
| 1865. |
Any student atudy in dr.s.k.singh book |
| Answer» No | |
| 1866. |
I cannot understand bank reconciliation statement |
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Answer» It is prepared when one finds the difference in his cash book & pass book. It is not to rectify the mistake but to know why the difference has occurred Bank reconciliation statement, is the statement, which is prepare to find the defaults of your passbook or cashbook.It is prepared by the person having bank accout. |
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| 1867. |
Guys .... Need help... Can anyone help me in learning Financial statement with adjustment |
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Answer» Every adjusment have two affectIf one entry in trading ac then 2nd ll b in BS If one entry in P/L ac then 2nd ll b in BS. Hii Yes, why not |
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| 1868. |
What is fictitious asset???? |
| Answer» Deffered revenue expenditure are treated as fictitious assets. | |
| 1869. |
Short defination of DOUBLE ENTRY SYSTEM |
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Answer» In double entry system there are two sides , one is debit side and second is credit side . Accounting is based on double entry system .Double entry system is simply that system in which one account is debited and other account is credited. |
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| 1870. |
What do you mean by preparation of financial statements |
| Answer» It means to ascertain the true position of business at that particular time | |
| 1871. |
why i am not able to get ncert solutions for financial statements-II |
| Answer» Buy a book from any inline site if search for pdf solution | |
| 1872. |
Sale.to X of.400 Rs posted as 4000 Rs |
| Answer» Sales A/c dr 3600 To X\'s A/c. 3600 | |
| 1873. |
I want account project work question |
| Answer» Which school | |
| 1874. |
accrual basis of accounting is more reliable than |
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Answer» Accural basis of accounting is more reliable than cash basis of accounting Accrual basis of accounting is more reliable than Cash basis of accounting as it give more accurate data and financial postion coz it record both transaction |
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| 1875. |
How to calculate the provision of depression account |
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Answer» First of all, you must have to make depreciation account in which we can write only depreciation of assets . If we are selling assets at the time we will transfer depreciation in the assets accounts and it will be reduces from assets . You make provision account |
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| 1876. |
Chapter ledger back exercise question 8 |
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Answer» My id _kanish_2208 I can give it u by instagram if u r on instagram How i give its answer |
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| 1877. |
Rent paid by owner from his own pocket what is journal entry |
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Answer» Drawing A/C Dr. To Cash A/C What is journal entry and with amount Received from Gopichand rupaye 38000 by cheque deducating 5% cash discount Thank you Drawings acct DrTo cash or bank acct |
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| 1878. |
2 hours ma thoury jada aaye gi ya praticle question |
| Answer» Practical question | |
| 1879. |
How we calculate intrest on retiring under rebate |
| Answer» | |
| 1880. |
Why we are telling profit & loss A/C |
| Answer» Bcoz at the end of year when we calculate . It helps us to know what our business is earning profit or loss | |
| 1881. |
Balance sheet |
| Answer» | |
| 1882. |
"Depreciation" is real account, personal account or nominal account ?Which type of account is this? |
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Answer» Depreciation is a nominal account I think nominal account debit all expenses credit what income & gains Depreciation is a nominal account because it is a loss to the business and nominal account says (debit all expenses and losses) |
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| 1883. |
"Bad debt" is real account, personal account or nominal account? which type of account is this? |
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Answer» Bad debts is nominal account because it is an expense it says (debit all expens6an losses) Bed debt real account |
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| 1884. |
Pass the journal entry:Salary due to Martha ₹20000 |
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Answer» Why cr. To martha? Outstanding Salary a/c Dr. To salaries a/c outstanding salary A/C Dr To Martha A/Cbecause the the amount is not yet paid to the martha and it is outstanding salary A/C Salary A/C.......dr. 20,000 To Martha A/c. 20,000 |
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| 1885. |
"Bank loan" is personal account ,real account, or nominal account. Which type of account is this? |
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Answer» It is nominal account But bank is an asset in liability+capital =assets also.so it means it is real accounts also. Give reason why I should consider bank loan as nominal account. Nominal |
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| 1886. |
One story for record transaction journal lader trial blance and profit and loss a/c for project work |
| Answer» | |
| 1887. |
Example of specific reserve |
| Answer» A specific reserve is one, which is created for some specific purpose by debiting Profit and Loss Appropriation Account. Normally, it is available for the purpose for which it has been created.Some of the examples of specific reserves are as below:\tDividend Equalization Reserve.\tInvestment Fluctuation Reserve.\tDebenture Redemption Reserve.\tPlant and Machinery Replacement such as Sinking Fund Reserve or Depreciation Fund Reserve. | |
| 1888. |
Transactions |
| Answer» Bzbbsgßhhsshh | |
| 1889. |
Meaning of bad debt |
| Answer» Whenever the debtor refuse to pay the debt that is called bad debts. | |
| 1890. |
Dep on a machine in 25% purchase price of machinery in 50,00,000 |
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Answer» 50,00,000×25/100 = 12,50,000 Dep-5000000×25/100 |
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| 1891. |
Meaning of gain and loss |
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Answer» I mean profit or income and loss or expanse Gain means profit or expanseLoss means loss or income Loss means excesse of expense over its related revenue is loss Gain means an income that arise from transaction which are unexpected or irregular to the bs Gain means the profit you earn Loss means unprofit or minus from your capital Dep of machines 25% purchase price of machines is 50,00,000 |
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| 1892. |
ques.12 of ch. 18 |
| Answer» | |
| 1893. |
Why deferred revenue expenditure is revenue in nature not of capital |
| Answer» | |
| 1894. |
Why is it necessary to record the adjusting enteries in the preparation of final acxounts |
| Answer» So many entries r there which do not have any place in trial balance so there are adjustment entries to show the profitability and check of financial statement | |
| 1895. |
If B/R of 50000 retained with drawer (X)and noting charge were Rs_600Here ,Drawee(Y) |
| Answer» What is full question | |
| 1896. |
If closing stock is in trial balance wherr it is shown |
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Answer» Credit side At cr side By side It is shown in balance sheet only because if closing stock is given in adjustments then it is shown in both trading and P/L account as well as balance sheet |
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| 1897. |
1000 paid for repairs to building have been debited to building account |
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Answer» Right? Yes Repair ac debited to bulding ac |
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| 1898. |
provision for bad debts is indirect expense or direci expense?? |
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Answer» Indirect exp. It is indirect expense because in incourse after sale Hello Is an indirect expens |
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| 1899. |
What is minimum price ceiling explain its implications |
| Answer» For certain goods and services, Government, sets minimum price. This minimum price is called minimum price ceiling.This price is normally set at a level higher than the equilibrium price. This leads to axcess supply. Since producers are not able to sell all they want to sell, they illegally sell the good or service below the minimum price. | |
| 1900. |
30 transactions its journal ,ledger and trial balance |
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Answer» Yes it is possible Yes |
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