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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.
| 2501. |
Diffrence between revenue exped.and capital expend. |
| Answer» | |
| 2502. |
I want ncert solution for aacountancy |
| Answer» | |
| 2503. |
Why is salaries indirect expence |
| Answer» | |
| 2504. |
Features of double entry system |
| Answer» Transactions recorded on two sides.Each transaction Effect 2 accounts.Preparing balance sheet. | |
| 2505. |
Why Intrest on Capital is Goes in profit and Loss debit side |
| Answer» Because interest on capital is our income and therefore it goes in capital (as profit) | |
| 2506. |
What do you mean by operating profit |
| Answer» Operating profit are the profit earned from firm\'s normal core of business operations. | |
| 2507. |
What is operating profit & net profit |
| Answer» Operating profit refers to the profit earned from a firm\'s normal core business operations.it also known as earnings before interest and tax. & Net profit is measure of firms net income or net earnings during a given period of time. | |
| 2508. |
In which account establishment expenses should be placed n in which side..?? |
| Answer» Profit and loss account debit side | |
| 2509. |
Illustration9 answers of chp financial statements1 |
| Answer» In the question we given that total purchase =800000 return outward I.e purchase return =20000 Direct expense =60000Now firstly we have to calculate first cost of good sold of total purchases In illustration you can see formula of cost of goodsoldAfter calculating cost of good sold ,we calculate 2/3 of cogs because the sale price given in the question is of 2/3 of goodAfter this calculate Gross profit =netsales - cost of good sold Note : purchase always refer to purchase of good | |
| 2510. |
Accountancy term period |
| Answer» Is 1 April To 31March | |
| 2511. |
What is accounting treatment |
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| 2512. |
Differences between reserves and provisions\xa0 |
| Answer» \tReserveProvisionDefinitionThe portion of profit kept aside for unforeseen obligations of a businessA portion of money from the business set aside for meeting known liabilities or expensesMethod of CreationCreated by debiting Profit and Loss appropriation accountCreated by debiting Profit and Loss AccountPurposeIt provides capital for running the business and safeguards against expenses from unforeseen contingenciesIt secures business from expenses arising from known liabilitiesAllocationPresence of profit is required for allocation of reserve.Presence of profit not necessary for allocationDividend PaymentPaid from reservesCannot be paidImpact on ProfitReduces net profit of the organisationReduces profits for dividend distributionAppears inAlways shown on the liability sideAppears as a deduction from the concerned asset, in case of an asset, in case of liabilities, it is shown in the liabilities sideUtilisationCan be used for any given purposeNeeds to be used for the specific purpose it is allocated for\t | |
| 2513. |
What is\xa0reserves??\xa0 |
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Answer» It is amount set aside out ofprofit to meet future contingencies or unknown liabilityExample:-1. General reserve 2. Capital redemption reserve 3. Debenture redemption reserve 4. Capital Reserve 5.Dividend equalisation reserve Pls...anybody pls answer me..\xa0 |
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| 2514. |
Sales book is short casted by ruppes 5000 |
| Answer» | |
| 2515. |
Return one fourth of the goods to rp singh |
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| 2516. |
Returned one fourth of the goods to rp singh |
| Answer» | |
| 2517. |
Q 12 of ncert |
| Answer» | |
| 2518. |
Adjustments in final accounts General expenses include Rs 2600 paid for wagesHow to do this?? |
| Answer» Post in debit side of p/l | |
| 2519. |
What is debt |
| Answer» | |
| 2520. |
Which account is not considered while preparing the trial balance? |
| Answer» Accounts which do not balance are not considered while preparing trial balance. | |
| 2521. |
How to calculate endorsement and discounting entry |
| Answer» In endorsement,Name of the person to be endorsed is DrB/R is crIn discounting ,Cash A/C. DrDiscounting charges A/C. Dr To B/R. A/C | |
| 2522. |
What is capital expense |
| Answer» It is that type of expense which are incurred to acquire or improving , upgrading which will increase the earning capacity of business. Example: installation of new machinery. | |
| 2523. |
The solution of financial statement with adjustment |
| Answer» | |
| 2524. |
Following is the trial balance of Mr.Gautam as act 31st March,2017 |
| Answer» | |
| 2525. |
in bills of exchange dishonour of bill |
| Answer» In books of drawer: drawee a/c Dr to B/R a/c. And in books of drawee : B/R a/c Dr to drawer a/c | |
| 2526. |
Received a cheque from navin for rs 380 and deposited into bank on same day |
| Answer» | |
| 2527. |
What is the use of financial statement? |
| Answer» 1.To provide true profit or loss2.To depict the financial position of the business | |
| 2528. |
Financial statement |
| Answer» | |
| 2529. |
What is noting charges??? |
| Answer» The bill was properlý presented and dishonoured , the bill is usually handed over to a person called \'notary public\',appointed by the court. The notary public charges a small fee for the service rendered by him which is called \'noting charges \'.Such charges are paid to the notary public first by the holder of the bill but are ultimately recovered from the acceptor because he is the person responsible for the dishonour. | |
| 2530. |
Who is debtor and creditor |
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Answer» A debtor is a person who owes to the firm an amount and is an asset for the businessWhereas, a creditor is a person to whom a firm owes money and is a liability for the firm Creditors are people to whom firm given the money after taken services Debtor is people from which firm taken money after rendering services |
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| 2531. |
Chapter 5 accounting equations ate not here |
| Answer» No | |
| 2532. |
Why don\'t write A/c with name into journal. |
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Answer» Thanks It\'s not important to write a/c wih name but if we want we can right a/c with name. Write |
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| 2533. |
Principal of accounts |
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Answer» Ledger Journal |
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| 2534. |
How bad debts treatment in equation chapter |
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Answer» Capital Capital What is bad debts treatment in accounting equation |
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| 2535. |
All question of deprisation |
| Answer» | |
| 2536. |
What is compound voucher |
| Answer» Compound voucher is a mixed voucher of debit and credit voucher | |
| 2537. |
बिजनेस ट्रांजैक्शंस एंड अकाउंटिंग |
| Answer» By balance a/c | |
| 2538. |
How to do ledgar |
| Answer» | |
| 2539. |
Which account is called proprietors account |
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Answer» Thanks Saving account |
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| 2540. |
Which is the best refresher book for accountancy with GST and practice for class 11? |
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Answer» Ya Ts grewals Arpita T\'s agrawal |
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| 2541. |
Journal propee |
| Answer» You give sales sales return purchase purchase return | |
| 2542. |
Post journal to ledger and ledger to journal |
| Answer» | |
| 2543. |
What is GST? And its type. |
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Answer» IT STANDS FOR GOODS AND SERVICE TAX.ALL TAXES LIKE VAT ARE MREGED UNDER GST.IT IS OF TWO TYPES-INPUT GST WHICH IS PAID WHILE PURCHASING GOODS AND OUTPUT GST WHICH IS COLLECTED WHILE SELLING GOODS. Gst is goods and services taxIt is of three typeIGSTCGSTSGST |
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| 2544. |
What are goods Explain its classification |
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| 2545. |
What is T shape cash account? |
| Answer» | |
| 2546. |
Journalish the following transaction in the books of Shri Manoj Kolkata and prepare ledger accounts |
| Answer» | |
| 2547. |
What do you mean by accounting concepts |
| Answer» | |
| 2548. |
What is accounting information system |
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| 2549. |
Revelance meance |
| Answer» | |
| 2550. |
Bank collected dividend Rs.300 from Reliance capital |
| Answer» | |