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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.
| 2201. |
Under which principle, quality of management is not recorded in the books of accounts? |
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Answer» Money measurement principal because accounting record only those transaction which we convert into money term Money measurement concept |
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| 2202. |
Pg 13.38 ch. Depreciation question 2 |
| Answer» | |
| 2203. |
Explain Debit and credit. |
| Answer» | |
| 2204. |
How to make a balance sheet? |
| Answer» | |
| 2205. |
What is cash book and their types |
| Answer» Cash book is a book of prime entry in which cash and bank transactions of a business are recorded in a chronological order . three types of cash book | |
| 2206. |
Capital is liabilities for business how?Explain with the help of principle. |
| Answer» Capital is liability for business as owner is creditor of business.\xa0this can be explain with the help of business entity principle. This principle says, business is a seprate entity from its owner, it has its own accounts and legal existence, one can not mixup owner\'s and business\'s transactions. | |
| 2207. |
What is capital |
| Answer» Money or anything in kind invested by owner in business is called capital.\xa0 | |
| 2208. |
Wht do u mean by account |
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Answer» Where all the business transaction recording sistamatic manger is called account An account is a statement which contains all transactions relating to a particular person or an item |
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| 2209. |
Goodwill is classified under which class of assets |
| Answer» Intangible assets | |
| 2210. |
Bank overdraft |
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Answer» Bank overdraft is facility that provide by bank to regular customer. This facility you can take extra money from bank. A sevice given by bank , under which one can withdrew money from account and the balance after withdrawal goes nagative in account .. thats called overdrew . |
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| 2211. |
What is tha juarnal entry cash in hand |
| Answer» Cash a/c dr. To capital a/c | |
| 2212. |
Limaition of account |
| Answer» | |
| 2213. |
Government grant is Dr or cr in trail balance |
| Answer» Cr | |
| 2214. |
What do you mean by inventory |
| Answer» Stock | |
| 2215. |
How we prepare a cash book |
| Answer» | |
| 2216. |
What are source documents?Explain one by one. |
| Answer» Affahgvvsgwbwgsvsvsfvshshsbsgsvehsbsushscshabsgsyzzh jbsgsisvsgsbs hshdvsf especially she syskscsuscsvsvsgsvdshs wgsgwgs \'s shshdhshssvsvussvvsshvss due shshdhshssvsvussvvsshvssgssksnsijs. | |
| 2217. |
What is leger |
| Answer» | |
| 2218. |
how to solve journal |
| Answer» | |
| 2219. |
Whatvis equation of creditor accepted a billy for payment |
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Answer» We will subtract amt. from B/P as liability and subtract same amount from cash or bank as mode of payment Creditor\'s a/c Dr. To b/p a/c |
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| 2220. |
What are the methods to recording the transactions ? |
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| 2221. |
B.R.S. |
| Answer» Bank reconciliation statement | |
| 2222. |
How to prepare for accountancy exam class XI |
| Answer» | |
| 2223. |
Why am use financial accounting in accountancy |
| Answer» | |
| 2224. |
How to know what to change in brs i.e pass book or cash book |
| Answer» From the first entry. If it is balance or overdraft as per cash book so cash book will be changed and vice versa | |
| 2225. |
What is account ? |
| Answer» Record of transactions of a particular head at one place | |
| 2226. |
What is meant by lf in accounting term???? |
| Answer» | |
| 2227. |
What is mean by accounting |
| Answer» | |
| 2228. |
Withdrew from bank 40000 |
| Answer» Cash A/C Dr. To Bank A/C | |
| 2229. |
Debit=credit means |
| Answer» Means when Both debit as\xa0well as credit side of Trial balance, Ledger etc. matches, then debit=credit | |
| 2230. |
Depriciation is written in which side of the trial balance |
| Answer» It will be writtn on debit side as it is an expnse | |
| 2231. |
Is Insurance debited or credited in the trial balance?? |
| Answer» Debited | |
| 2232. |
Pattern of paper |
| Answer» | |
| 2233. |
Double column Cash book format |
| Answer» | |
| 2234. |
Explain : Contingent liabilities |
| Answer» Liability that was not actually arise , but likely to arise in future is contingent liability. | |
| 2235. |
Howto make BRS? |
| Answer» BRS IS BANK RECONCILIATION STATEMENT. It is used to reconcile the balances of cash book and pass book .So in order to match the balances we have to go through the transactions ommited or the errors while entering in both books.And then make coorections by adding or substracting the error amounts. | |
| 2236. |
Where is the journal chapter |
| Answer» | |
| 2237. |
When the bill was retained by darshan till the date of its maturity |
| Answer» There will be no entry for retaining the bill.Entry will be done for payment only.Bank a/c Dr. To Bill receivable a/c | |
| 2238. |
Format of voucher |
| Answer» For eg. | |
| 2239. |
goods purches 1000 journals enter |
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Answer» Purchase A/C .....Dr. 1000To cash A/C 1000 Purchase A/C Dr 1000 To Cash A/C 1000 |
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| 2240. |
Accoordinate to you A ledger having 21 transaction in how much time and individual complete it |
| Answer» | |
| 2241. |
What are the two bases of accounting |
| Answer» Accrual basis and cash basis | |
| 2242. |
Sir, discount allowed at bank.. At that what will happen in BRS |
| Answer» In case we didn\'t enter this discount in our cash book, we should substract that discount in cash book while preparing BRS.\xa0 | |
| 2243. |
Shaam sunder commenced business with cash |
| Answer» Cash a/c dr. To capital a/c | |
| 2244. |
Which accounts are not considered while preparing trial balance |
| Answer» Trial Balance :The trial balance is a report of every ledger account with a running balance for the time period selected. When transactions post to the ledger properly, your debit balances equal the credit balances, producing a net of zero. Use the trial balance report to ensure that your ledger is accurate or to identify necessary adjusting entries to correct account balances.Accounts Omitted : The\xa0trial balance is not impacted by any account that has a zero balance. Accounts without a running balance are left out of the trial balance report to save space and confusion. When an account is adjusted to a zero balance after the adjusting entries are completed, remove it from the adjusted trial balance report. | |
| 2245. |
Entry in cash book for discounting a bill of exchange at 1% through bank of rs 4000 |
| Answer» | |
| 2246. |
Bank is an asset or liability |
| Answer» Asset | |
| 2247. |
Why do we make trial balance? |
| Answer» | |
| 2248. |
Returned goods to Raghu-4000 |
| Answer» Raghu a/c dr. To purchases return a/c | |
| 2249. |
What is a accountancy |
| Answer» Accountancy is the theory part of accounting | |
| 2250. |
Which transaction is not recorded in cash book ? |
| Answer» Credit transactions n transaction that does not involve cash or bank coloumn.E.g-credit sale of goods,rent outstanding | |