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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.
| 2701. |
is trial balance a statement or account |
| Answer» | |
| 2702. |
Nature of receipts and payments account |
| Answer» It is same as cash book. A real account ,asset account | |
| 2703. |
What is provision for doubtful debit |
| Answer» | |
| 2704. |
Double entry system of accounting is based on the principle of dual aspect ? Explain |
| Answer» | |
| 2705. |
4limitation of computer systems |
| Answer» | |
| 2706. |
What is the treatment of interest on drawing of accounting equation |
| Answer» Reduce in capital and P/L Account Cr. Side | |
| 2707. |
Adjusted purchased with loss by fire in trading a/c |
| Answer» Reduce from purchases | |
| 2708. |
p/l account |
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Answer» Incomplete question Kya p/l a/c |
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| 2709. |
Land and building dr -120000Depreciation charged 2 1/2 % |
| Answer» 12600 | |
| 2710. |
An old machinery purchased for 56,000 name book where it recorded |
| Answer» Journal proper | |
| 2711. |
What is the meaning of window dressing |
| Answer» It means manipulation in the books of account to conceal the vital facts and show the books of account in such a manner that they show a high position | |
| 2712. |
Formula for operating profit |
| Answer» Operating profit=net profit+non-operating expenses in non- operating incomes | |
| 2713. |
Defination of a computer |
| Answer» “A Computer is an electronic machine that can solve different problems, process data, store & retrieve data and perform calculations faster and efficiently than humans”. | |
| 2714. |
which accounts are not considered while preparing tial balance |
| Answer» | |
| 2715. |
Write any two features of voucher |
| Answer» | |
| 2716. |
Which transaction are recorded in jaornal proper |
| Answer» Opening entries, rectified entries, adjustment and compond entries | |
| 2717. |
Where will be the goodwill placed in the financial stst |
| Answer» Assets side of balance sheet | |
| 2718. |
Trading |
| Answer» | |
| 2719. |
name the reserve that can be used in distribution of divident |
| Answer» No one | |
| 2720. |
What is meant by merchandise |
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Answer» Thanku In America goods is known as merchandise Tangible goods |
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| 2721. |
What is the journal entry of \'Goods sent on approval basis\' ? |
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Answer» Ab iss app me explain kaise kru plz explain Sales a/c. Dr. To debtors a/c |
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| 2722. |
why is profit and loss account not prepared in \' NOT-For-profit institution |
| Answer» Because of all expenses like direct or indirect doesn\'t matter | |
| 2723. |
What is Subsidiary book?? |
| Answer» | |
| 2724. |
Labhgat sanchye defination |
| Answer» | |
| 2725. |
Accounting equation paid intrest on loan 20000 and installation 200000 |
| Answer» | |
| 2726. |
Paid intrest on loan 20000 and installation of 200000 |
| Answer» | |
| 2727. |
Trading and profit nd loss account with balance sheetCapital19000Drawings250Cash1520 |
| Answer» | |
| 2728. |
Difference between trial balance and balance sheet |
| Answer» Trail Balance is the summary of all the accounts while balance sheet comes under the category of final account | |
| 2729. |
What is payee |
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Answer» Payee is the who receives the payment of drawer from drawee payee is the person who is liable to pay the amount of drawer |
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| 2730. |
What is difference between subsidiary books and ledger account |
| Answer» subsidiary book= purchase book sales book b/r book.ledger = account | |
| 2731. |
Bill at sight?? |
| Answer» | |
| 2732. |
Life insurance premium pai journal entries |
| Answer» Drawings A/c Dr. To cash A/c | |
| 2733. |
What is the difference between discounting charges and nothing charges |
| Answer» dis.charge = when charge occures before maturitynot. charge = when charge is to be given after maturity | |
| 2734. |
Three external users |
| Answer» Creditors, public, researchers , government , consumers | |
| 2735. |
What is contract entry |
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Answer» Contra entry is a entry which effect both side of Cash book debit side and credit side Contra entry is those entry which is two entries for a cash and bank example :- cash deposite into bank contra entry is usually performed in ledger. Suppose u have prepared any two a/c in ledger (`cash bank) and while posting from journal entry if these two accounts have together dr or cr then contra entry must be performed. |
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| 2736. |
Any o |
| Answer» | |
| 2737. |
Expand form of nabard |
| Answer» National bank for agricultural and rural development | |
| 2738. |
What is Prudence concept? |
| Answer» | |
| 2739. |
Treatment of legacy in income and expenditure account |
| Answer» It is shown in the balance sheet not on the income and expenditure a/c.because it is capital receipts | |
| 2740. |
What is meant by imprest amount in petty cash book |
| Answer» An imprest system of petty cash means that the general ledger account Petty Cash will remain dormant at a set amount. For example, if the petty cash custodian is entrusted with a locking bag containing $100 of currency and coins, then the Petty Cash account will always report a debit balance of $100. | |
| 2741. |
Any one objectiw of accountives |
| Answer» To find p&l. | |
| 2742. |
Name 2 accounting system to record financial transaction in books of accounts |
| Answer» p/l and balance sheet | |
| 2743. |
What type of software is mozila Firefox |
| Answer» Firefox Browser, also known as Mozilla Firefox or simply Firefox, is a free and open-source web browser developed by the Mozilla Foundation and its subsidiary, the Mozilla Corporation. Firefox uses the Gecko layout engine to render web pages, which implements current and anticipated web standards. | |
| 2744. |
Difference between profit nd gain |
| Answer» Profit is the summation of total income less total expenses. Gain is the proceeds received from the sale of fixed or financial assets. | |
| 2745. |
\'Business units last idefinately\'.Mention the concept? |
| Answer» Going concern concept | |
| 2746. |
Optional question |
| Answer» | |
| 2747. |
What is journal entry for cheque received from Ravi but no deposited |
| Answer» That will be cash ac dr, To ravi. .... When it is deposited you\'ll write Bank ac de, to cash. | |
| 2748. |
Why accountancy is hard |
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Answer» Your concept not cleared this reason you think that account is hard You just has to understand concept bro it\'s very easy ?? |
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| 2749. |
Difference between double entry and single entry |
| Answer» In a single entry system, only single entry is recorded which can be either debit or credit transaction. On the other hand, double entry system has a double recording method in each transaction. This means that for every debit record there is a corresponding credit entry and vice versa. | |
| 2750. |
Difference between donkey entry and single entry system |
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| Answer» | BASIS FOR COMPARISON | SINGLE ENTRY SYSTEM | DOUBLE ENTRY SYSTEM | \t\t\tMeaningThe system of accounting in which only one sided entry is required to record financial transactions is Single Entry System.The accounting system, in which every transaction affects two accounts simultaneously is known as the Double Entry System.NatureSimpleComplexType of recordingIncompleteCompleteErrorsHard to identifyEasy to locateLedgerPersonal and Cash AccountPersonal, Real and Nominal AccountPreferable forSmall EnterprisesBig EnterprisesPreparation of Financial StatementDifficultEasySuitable for tax purposesNoYesFinancial positionCannot be ascertained easily.Can be ascertained easily.\t|
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