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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.
| 2151. |
What are assets , liabilities , |
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| 2152. |
What is debtor |
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| 2153. |
How to make Ledger |
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| 2154. |
She transferred 1500000 to the firm\'s bank account from her savings account |
| Answer» if she is the\xa0owner of the firm then it will be considered as the capital. following\xa0journal entry shall be passed:-Bank A/C Dr. 15,00,000 Capital A/C 15,00,000( being capital introduced) | |
| 2155. |
Help in projects |
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| 2156. |
What os difference between trade and cash discount |
| Answer» \tKey Differences betweenTrade DiscountCash DiscountTrade discount is merely a device to determine the price.Sales are invoiced at the net price after deducting the trade discountCash discount is the deduction from the net Invoice price.Trade discount is allowed by the wholesalers to the retailers to enable the retailer to sell the goods to the consumers at the list price and still leave a margin of profit.But Cash Discount is allowed by a creditor to his debtor to induce him to make prompt payment.Trade discount usually varies with the quantity of goods purchased.While cash discount varies with the time within which the debt is paid.Trade discount is not recorded in the books of account.cash discount must be recorded in the books of accounts.\t\xa0 | |
| 2157. |
What is naration |
| Answer» in the context of accountancy, it is just a brief\xa0explanation of journal entry. | |
| 2158. |
Steps for accounting equation |
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| 2159. |
Balance from last months |
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| 2160. |
Cash book |
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| 2161. |
Goods costing 800 purchased from sachin on credit were omitted to be credited to his account |
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| 2162. |
Information in financial report is based on transaction |
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| 2163. |
Difference between ledger and journal |
| Answer» BASIS FOR COMPARISONJOURNALLEDGERMeaningThe book in which all the transactions are recorded, as and when they arise is known as Journal.The book which enables to transfer all the transactions into separate accounts is known as Ledger.What is it?It is a subsidiary book.It is a principal book.Also known asBook of original entry.Book of second entry.RecordChronological recordAnalytical recordProcessThe process of recording transactions into Journal is known as Journalizing.The process of transferring entries from the journal to ledger is known as Posting.How transactions are recorded?SequentiallyAccount-wiseDebit and CreditColumnsSidesNarrationMustNot necessary.BalancingNeed not to be balanced.Must be balanced.\t | |
| 2164. |
What is depreciation |
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Answer» Depreciation means the process of decreasing the value of tangible assets gradually Decrease in value , quality, quantity of buisness property (ASSET) is called depreciation .Simply the using value decrease in asset |
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| 2165. |
What are creditors? |
| Answer» The ones to whom the business owes a particular amount.Or simply to whom the business has to pay they are the liability for the business | |
| 2166. |
Double cash column |
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| 2167. |
Salari for the month is outstanding |
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| 2168. |
Commenced business with cash RS 50000 |
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Answer» Particular debit creditCash A/C ...Dr 500000 To capital A/c. 500000 Is this ques is of accounting equation or from journal ? |
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| 2169. |
What is traditional approach |
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| 2170. |
A firm has received a largest order to supply the goods. Will it be recorded in books ? |
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| 2171. |
Timber purchased journal entry |
| Answer» Timber a/c DR to cash a/c | |
| 2172. |
What will be debited and credited |
| Answer» Debit whats comes in & credit what goes out | |
| 2173. |
Kin kon chapter se aayenge half yearly me qustions |
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| 2174. |
Define accountancy. |
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| 2175. |
How to prepare a return Inward And return outward book |
| Answer» Return inward (sale return) & return outward (purchase return) | |
| 2176. |
What are the steps involve in the process of accounting |
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| 2177. |
Wahat are two bases of acountancy |
| Answer» There are two different bases of accounting: accrual and cash. | |
| 2178. |
Why closing stock is valued at cost price or realisable value which ever is less ? |
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| 2179. |
What is the meaning of accounts |
| Answer» a record or statement of financial expenditure and receipts relating to a particular period or purpose. | |
| 2180. |
Solution of last year papers |
| Answer» YOU CAN CHECK IT OUT ON MYCBSEGUIDE.COM WEBSITE | |
| 2181. |
How can I download the questions paper in pdf |
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| 2182. |
Questions for 80 marks from 1 to 13 chapters of accountancy |
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| 2183. |
x = 3 find its value 1 to 100 |
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| 2184. |
Cash paid to rita |
| Answer» Rita a/c. Dr. To cash a/c | |
| 2185. |
What is accud principal |
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| 2186. |
Cheque issue but not presented in bank |
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Answer» The above answer is wrong the correct answer is ......only CB increase hogi because cheque bank m present hi ni hua to of course cash book increase hogi CBबढेगी PBधटेगो |
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| 2187. |
What are the featuers of double entry system? |
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| 2188. |
What is real accounts |
| Answer» Real account is the account of all the assets of business | |
| 2189. |
What is accured interest |
| Answer» The money that is being due but not received by us | |
| 2190. |
What is entry? |
| Answer» | |
| 2191. |
What is accounts |
| Answer» It means summarising of financial txn on the name of one name | |
| 2192. |
In special cash book cam we record credit txn |
| Answer» Cash Book is for cash transactions only. no credit transactions can be recorded in it. | |
| 2193. |
Ledger |
| Answer» Principal book of accounting | |
| 2194. |
Journal entry for overdraft |
| Answer» Bank a/c Dr. To bank overdraft a/c | |
| 2195. |
Receive interest in cash |
| Answer» Cash a/c. Dr To interest received a/c | |
| 2196. |
Bought goods from Tara for cash |
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Answer» Purchase a/c.... Dr To cash a/c Tara a/c........ Dr....... To cash a/c Purchase a/c........dr. To cash a/c |
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| 2197. |
What is income |
| Answer» Bought goods from Tara for cash | |
| 2198. |
Extra question of simple petty cash book |
| Answer» Where small transaction recording is called as petty cash book | |
| 2199. |
Why do we write goodwill when in opening entry liabilities are more than assets ? |
| Answer» Because, as per accounting equation concept and dual aspect concept, our total liabilities must be equal to total assets, Now in opening entry, if total liabilities stand higher than total assets, it indicates some more asset should be there, which is taken to be goodwill.Alternatively put, a business may be able to avail more credit beacuse of tghe name, fame and image (goodwill) it has developed for itself in the market. | |
| 2200. |
What is ledger |
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Answer» Yes Where are all the business transaction recording sistamatic manger in saparate account DR/cr is called ledger Ledger is a part of book keeping |
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