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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.
| 3651. |
Write a cash book entry of ~cash deposited in bank 2000 what this entry is Contra entry |
| Answer» This is contra entry! On bank column will be debited and cash column will be credited! | |
| 3652. |
What is the journal entry of cash paid on account |
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Answer» Its may beCashA/c Dr To BankA/c There must be the name of the person to whom cash is paid on account. The journal entry would be: (Name of the person) A/c debited To cash A/c |
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| 3653. |
What is an expenditure |
| Answer» Expenditure is the amount expended for business purpose.? | |
| 3654. |
What are the limitation and advantage of trial balance ? |
| Answer» | |
| 3655. |
Parchased goods from rita,delhi on credit for 20,000 |
| Answer» Purchasage A/c Dr. 20000 To rita. 20000 | |
| 3656. |
paid rent for the office |
| Answer» Rent a/c. Dr. To cash a/c | |
| 3657. |
Bill |
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Answer» Bill dr. To cash cr Bill. Dr. To cash DR. |
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| 3658. |
What account that not consider in trial balance |
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Answer» Closing stock account Opening accouts |
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| 3659. |
Format of income statement |
| Answer» | |
| 3660. |
What is book debts |
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Answer» Book debts Book debts or bad debts what did you asking |
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| 3661. |
What is trial balance.What are the uses of it? |
| Answer» Trial balance is a balance in which the business man can check its journal ledger to make a trial balance | |
| 3662. |
Please add information technology level 3 subject |
| Answer» | |
| 3663. |
What is the journal entry of security deposit for electricity board 6000. |
| Answer» Security deposit of electricity A/C. Dr 6000 To cash/ bank A/C. 6000 | |
| 3664. |
Borrowed from ridhi @ 10% interest per annum - 50000Journalise the transaction. |
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Answer» Bcoz of the loan cash will increase and will be debited. Now interest on loan will be an expense for the business so it will be also debited. And last loan being a liability will be credited. Cash a/c - dr - Rs 50000Interest a/c- dr - Rs 5000 (10%per annum)To loan from ridhi a/c - Rs 55000 Cash A/c Dr. 50,000 To Loan A/c 50,000 |
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| 3665. |
Who is \' luca pacioli\' |
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Answer» Father of account He gave the concept of double entry system |
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| 3666. |
What is drawing? |
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Answer» jab kisi personal use k lie business me se koi amount lia jae use drawing kehle h....jese kisi businessman k ghar pe uski beti bimar Ho gai or usne apni beti k ilaj k lie apne business me se pese lie that is something called drawing When the business man withdraw cash or goods from capital for personal use then it is known as Drawing It is the amount with drawn or goods taken by the proprietor or partner for Paso Anything you are to business Drawings means when we withdrew goods or cash from our business and used for personal use. |
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| 3667. |
Difference between cash A/c and cash book |
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Answer» Cash A/c is made after passing journal entries so it is a ledger but Cash book is part of subsidiary book and it is book of original entry. In cash a/c it is just single transactions of cash but in cash book there are many transactions of cash |
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| 3668. |
Journalise the entryRent due but not received |
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Answer» Rent a/ Dr and outstanding rent a/c Cr. Rent A/c debit O/S A/C credit Rent A/c. Dr.To outstanding rent A/c |
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| 3669. |
Discount allowed meaning... |
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Answer» It means sale man get less money from him on some %. It is |
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| 3670. |
Name the external user of accounting information from whom the firm purchases good on credit |
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Answer» Potential investors , short term creditors , long term creditors , employees , tax authorities , government and their agencies , social responsibility group , public , competitors . Suppliers or creditors Bank, creditors, invester, goverment and its authorities, researchers, consumers, public. Creditors |
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| 3671. |
Difine accounting |
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Answer» Accounting is the identifying of financial information then recording, classifying etc Accounting is the process of identifying ,recording,classifing , communicating to the user. Accounting is an art of recording , classifying , and summarising data in a significant manner which are inpart of atleast financial character and interpretation of result thereof. |
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| 3672. |
How to learn entries |
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Answer» Understanding bna lo It is impossible becouse accounts is practicle subject so you do practice. |
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| 3673. |
Purchased goods from ram 10000 |
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Answer» Purchases A/c Dr. 10,000 To Ram 10,000(being goods purchase from Ram on credit Purchase A/c Dr. 10,000 To Ram. 10,000( Being purchase goods from Ram ) Purchase A/c ...Dr. 10,000 To Ram 10000 |
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| 3674. |
What is leverage ratio ? |
| Answer» | |
| 3675. |
how to do accounting equation |
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Answer» The main formula for accounting equation is ASSETS = LIABILITIES + CAPITALAlways remember 1.any adjustment will have 2 effects. That could also be on the same side.2.after every transaction/adjustment the total of both the sides will be same. Its formula is assets =liabilities +capitalPaid rent cash (-) =0. +(-) |
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| 3676. |
Methods of solving GST |
| Answer» The first step, what you have purchased or sell its total price.The second step, see how much per cent GST has to apply.The third step, from where that person has done this sale/purchase deal.If he did this sale/purchase from out of his state than apply IGST. If sale/purchse done inside of his state then apply CGST and SGST.Formula -IGST or CGST or SGST % given in question/100 * total sale/purchase | |
| 3677. |
Prepare profit and loss.account for the year |
| Answer» Cr side By statement of pL | |
| 3678. |
Goods destroyd by fire |
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Answer» Loss by fire A/c Dr...... To purchase A/c Loss by fire A/C........Dr To purchase A/C |
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| 3679. |
Distinguish between opening stock and closing stock? |
| Answer» When a propetior star a business with assets, it is called opening stock And The Stock he have on the ending of financial Accounting Period, it is called Closing Stock. | |
| 3680. |
What is receipts |
| Answer» | |
| 3681. |
Name the reserve that can be used in distribution of dividened |
| Answer» | |
| 3682. |
Journalise the following transaction in the books of M/s. R.K & Co. |
| Answer» Transactions..? | |
| 3683. |
Give a meaning of account? |
| Answer» | |
| 3684. |
interest due but not received journalise |
| Answer» Confirm to nhi h but I think Accrued interest A/C Dr. To interest A/C | |
| 3685. |
Trial balance and errors |
| Answer» | |
| 3686. |
Journalise the following transaction 1.interset on capital 6000 |
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Answer» Interest on capital ac dr 6000 To capital ac. 6000 Interest on capital a/c. Dr. 6000 To capital a/c. 6000 INTEREST ON CAPITAL A/c. Dr. 6,000 TO CAPITAL A/c 6,000 |
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| 3687. |
Journal entry for drew cash from bank for personal use |
| Answer» Drawings A/c Dr. .....To Bank A/c | |
| 3688. |
Meaning of Payee |
| Answer» | |
| 3689. |
A/c equation |
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Answer» Asset = liability + capital Assets=liability+capital |
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| 3690. |
how we calculate depreciation |
| Answer» | |
| 3691. |
State types of user with its two entities? |
| Answer» | |
| 3692. |
Define GST |
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Answer» GST means Goods & Services Tax.It is a single tax which is taken by government, including sales tax ,transportation tax etc.It is of 3 types -CGST ; SGST ; IGST. The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. All indirect taxes like custom duty, sales tax etc have been merged into a single tax known as gst |
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| 3693. |
What is accural bassis of accounting . explain |
| Answer» It means entering the transaction at a time when it has been done I .e u have to enter the transaction either the payment has been made or not | |
| 3694. |
Please someone send me pic of accounts question paper of half yearly |
| Answer» Mere ko bhi chahiye when u get send me plz ? | |
| 3695. |
Credits made by the bank interest |
| Answer» | |
| 3696. |
What is accountancy. |
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Answer» Accountancy is a body of knowledge, consisting various rules or principles to be observed while Accounting. Tomorrow your account exam? |
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| 3697. |
What is accouctancy |
| Answer» Accountancy is a body of knowledge, consisting various rules or principles to be observed while Accounting. | |
| 3698. |
What is bad bebts |
| Answer» It is the amount, which is made irrecoverable. | |
| 3699. |
Journal entry. Interest received but not collected of 500000 |
| Answer» Accrued Interest A/c Dr 500000 To interest A/c 500000 | |
| 3700. |
What is posting |
| Answer» Posting is a process of transferring transactions recorded in journal ie orignal books of account to final books ie ledger , applying rules of dr. and cr. | |