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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.
| 3751. |
Explain trail balance |
| Answer» Trail balance is a statment,prepare with the dr. & Cr. Balance of the ledger accounts to test the arithmetical (mathamatics errors) accrancy of the book | |
| 3752. |
Account question answer notes |
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| 3753. |
journal |
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| 3754. |
Why the depriciation is charged on assets |
| Answer» To ascertain the true profit of the business for a particular period. To show the asset at its true value in the balance sheet. | |
| 3755. |
What is accrued income & anaccrued |
| Answer» Income due but not paid | |
| 3756. |
Solved paper |
| Answer» | |
| 3757. |
A. Chapter. Books. Of. Original. Entry. Cashbook |
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| 3758. |
In cash book trade discount entry will pass or not |
| Answer» No because trade discount is not a actual discount | |
| 3759. |
N c r e t |
| Answer» What you wanna ask??? | |
| 3760. |
Question no 8and9 solution |
| Answer» Which book and which chapter | |
| 3761. |
How solve bank reconciliation statement questions ? |
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Answer» Ex.Pass book balance is given then find cash book balance?1.pass book debited by 100Ans.+1002.cash book debited by 200Ans.+200 By using given balance find the another balance If cash book balance is given then find passbook balanceDo all the changes(+,-)in given balance |
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| 3762. |
What is the provision? |
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Answer» Thanks ?? A provision is an amount that anyone put in aside in his accounts to cover a future liability. The purpose of a provision is to make a current year\'s balance more accurate, as there may be costs which could, to some extent, be accounted for in either the current or previous financial year. Btado |
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| 3763. |
What is accountancy and also write its importance |
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Answer» REPUTATION AND CREDIT BUILDINGReputation and business credit scores can be improved by the simple act of establishing and operation a sound accounting information system in an organization. The belief is that any company that has the got to have an accounting system in place will be efficient in all other aspects of business operations. PREVENTION OF FRAUD AND DISCOVERY OF FRAUDFrauds can only be discovered and prevented in an environment where there is good internal control in place. And a good internal control cannot be in place where there is no form of keeping track of events. Accounting and accounting information system is the only way of keeping track of all these in an effective and efficient manner.GETTING OF FUND AND LOANSYou cannot get loan from financial institutions if you cannot present your financial state of affairs in an acceptable manner. Accounting as a communication tool obviously have generally accepted formats which financial institutions and banks use as a basis for measuring the risk of a business. RECORD KEEPINGNo economy will stand well economically if records are not well kept and acted upon. Accounting is one of the primary vehicles of record keeping. Data are gathered from their various sources, collated, organized, analysed, interpreted and communicated to the end users for an informed economic decision making that will in the long run yield positive fruit. Countries are able to plan their economic activities are chiefly as a result of the valuable information gathered through all forms of accounting (making use of statistical tools). Governments use the records of companies to make fiscal and monetary policies. ANALYSIS PURPOSE/ DECISION MAKINGAll our business and economically informed decision making are based on sound analysis of financial statement which is a product of accounting information system. Without a properly kept account, this objective will probably not been achieved and business executives will all be acting in blindness. Investors both current and potential base their investment analysis on accounting information. Information on: profitability, liquidity, efficiency etc are all obtained from the information provided by accounting information system I need this answer more long.. (for 6 marks) Accountancy is the practice of recording, classifying, and reporting on business transactions for a business. It provides feedback to management regarding the financial results and status of an organization. |
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| 3764. |
What is GST |
| Answer» GST stands for Goods and Services Tax. Goods and Service Tax (GST) is a type of tax introduced in India from July 2017. GST is a consumption based tax ultimately borne by the end consumer of a goods or service. Throughout the value chain, businesses and consumers pay GST on their purchases. | |
| 3765. |
Give the meaning of assets and describes its classification? |
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Answer» Assets:-Anything which is the posssession or property of a business enterprise including the amounts due to it from other.Assets may be classified into two categories:-1)Non-current Assets.It is may be classified into two types :a)Tangible Assets and b)Intangible Assets2)Current Assets All those properties which belongs to a business is called assets.1.fixed2.current3.tangible4.Intangible Assets are valuable and economic resources of an enterprise useful in its operations.Assets can be broadly classified as:1. Current assets 2. Non-current assets a) Tangible assets b) Intangible assets |
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| 3766. |
What ias dishonoured |
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Answer» When the aceptor of the bill refuse to pay the amount of the bill on the date of maturity or become insolvent it is called dishonour of the bill. Cancel hona |
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| 3767. |
A company purchased on 1st april 2009,a machinery for rupee 80000. |
| Answer» Machinery A/c. Dr80,000To cash A/c 80,000 | |
| 3768. |
Salaries is Debit or credit |
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Answer» debit Debit Debit Debit |
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| 3769. |
What is accounting ? |
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Answer» Bro accounting is the art of recording,classfying and summarising the resuls of the business transactions to the user for correct decision making Accounting is rhe method to record all trade transaction related to the company\'s business. |
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| 3770. |
An analytical study of 25 different ledger account |
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Answer» Sir ,mam please give me a response Help for this topic of introduction |
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| 3771. |
Credit purchase of good18000 |
| Answer» Bri if generalPurchase a/c dr.To creditor | |
| 3772. |
explain depreciation, amortisation and depletion |
| Answer» Depreciation is the normal wear and tear of tangible fixed assets like plant and machinery etc.Amortization is the reduction in the value of intangible assets like goodwill, patents etc.Depletion is the reduction or exhaution of owned natural resources like coal mines etc. | |
| 3773. |
Yaha NPO ch kis kis k pas h..plz tell me |
| Answer» | |
| 3774. |
Accountancy class 11 comprehensive question |
| Answer» Accountancy question paper | |
| 3775. |
Depression question no. 15 |
| Answer» | |
| 3776. |
30 transaction with journal entries,ledger,trial balance and financial statement |
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Answer» Following are the transactions for the period April 20×1 to March 20×2 in the books of Michael Traders1-Apr\tMichael started business with cash 600,000, cash at Bank of America 700,000, furniture 200,000.1-Apr\tPurchased Plant & Machinery worth 250,000 by cheque.25-Apr\tPurchased goods from ABC Ltd worth 800,000 @10% trade discount.5-May\tCash Sales 1,000,000 @5% trade discount to XYZ Traders15-May\tDeposited cash with Bank of America 500,000.5-Jun\tPaid ABC Ltd 300,000 in cash.10-Jun\tReceived commission 75,000 by cheque.25-Jun\tCash Purchases 250,000.5-Jul\tSold goods to XYZ Traders 475,000.15-Jul\tReceived 275,000 by cheque from XYZ Traders.5-Aug\tLoan taken from Bank of America 200,00025-Aug\tPurchased goods from ABC Ltd 50,000.27-Aug\tWithdrew cash from bank 10,000.5-Sep\tReceived commission 55,000 in cash.10-Sep\tPaid ABC Ltd 70,000 by cheque.20-Sep\tReceived 90,000 in cash from XYZ Traders.1-Oct\tBank loan repaid 50,000.25-Oct\tCash Purchases 25,000.5-Nov\tSold goods to XYZ Traders 47,000.15-Nov\tWithdrew cash from bank 15,000.5-Dec\tReceived interest from bank 5,000.25-Dec\tPurchased goods from ABC Ltd 75,000.5-Jan\tCash Sales 100,000.15-Jan\tDeposited cash with Bank of America 35,000.25-Feb\tCash Purchases 450,000.28-Feb\tOffice was taken on rent in the month of Feb. Office rent paid in cash 50,000.28-Feb\tEmployees were hired in the month of Feb. Paid salary by cheque 30,000 & cash 30,000 for the month of Feb 20×2.5-Mar\tSold goods to XYZ Traders 675,000.31-Mar\tPaid office rent by cheque 50,000.31-Mar\tPaid salary in cash 30,000 for the month of March 20×2. journal hi 30 journal entery with ledger and trial balabce |
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| 3777. |
Depression machinery disposal question |
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| 3778. |
What account are not consider while preparing trial balance |
| Answer» Closing stock account are not considered while preparing trial balance if not adjusted | |
| 3779. |
Sale of old machinery amounting to 600 has been credited to the sales account |
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Answer» Right. = Cash ac dr. 600 To machine ac 600Wrong = cash ac dr 600 To sales ac 600 Rectified entry= sales ac dr 600 To machine ac600 Sales A/c. Dr 600 To machinery A/c 600 |
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| 3780. |
Page no. 7.152 |
| Answer» Which book | |
| 3781. |
Why there is is the means of increase is debit for assets |
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| 3782. |
Difference between bills of exchange and promissory note on the basis of acceptance |
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Answer» Bills of exchange need acceptance and promissory note doesn\'t need acceptence Bill of exchange is prepared by the seller and promissory note is prepared by buyer |
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| 3783. |
Financial statements and adjustments chapter show |
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| 3784. |
Briefly discuss the informational needs of any three external users |
| Answer» Three external users are : 1.Banks 2. Government 3.investors 1. BANK:the banks use the accounting information to insure the loan facility to firm.2. GOVERNMENT:It use the accounting information to make the policy and to check the taxes paid by the firm.3.INVESTORS:They use accounting information to ensure their investment in the business of that firm . | |
| 3785. |
Which accounts are not considered while preparing the trial balance? |
| Answer» Closing stock is not considered while preparing the trial balance because it is assumed that closing stock is all ready included in purchases and opening stock | |
| 3786. |
Financial Statment 2 |
| Answer» With adjustments | |
| 3787. |
What is aesset |
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Answer» Mean fromula Asset are the property which is owned by business to perform business activities. Anything which is in. the possession or is the property of the busines is called an asset Assets are those things which we can change into cash or the things which give benefit in future Assets are the things owned by business |
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| 3788. |
Practical problem 35 |
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| 3789. |
State any one system of accounting |
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Answer» SINGLE ENTRY SYSTEM Double Entry System |
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| 3790. |
Accrued or outstanding income |
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Answer» Payment that has not been received for products or services rendered outstanding and accrued revenue is earned but is not yet received in cash or other assets Both are same because it\'s income Accured and outstanding is a different term Accured income is income which is earned but not recieved Outstanding income means by that income which is not yet received |
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| 3791. |
How to treat funds in final accounts |
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Answer» We credit the funds in final accounts ....? Credit |
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| 3792. |
Journal entry of stock of goods in hand |
| Answer» STOCK A/c Dr. TO CAPITAL A/c | |
| 3793. |
How do we prepare accounting equation? |
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| 3794. |
Write short note on :- 1.error of commission. 2. Error of principle |
| Answer» | |
| 3795. |
Koiiii faltu person hai ky.. Jisse mai ek question puchhh saku??????? |
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Answer» And mr.kaushal jhaa am not ur bhai..sister bolte to chlta bhi...direct bahan se bhai bana diya .bewkuffff Swaggy harshit tu kaha tha ree....ravan tu hai mai ni Tu hii to hai Aa bhaii Rawan ?? |
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| 3796. |
Cash deposited into bank journal entry |
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Answer» Bank account dr To cash account Cash A/c dr Tobank a/c Bank Ac Dr to cash ac Bank Ac Dr To Cash Ac |
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| 3797. |
Difference between straight line meathod and written down value meathod ? |
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| Answer» | BASIS FOR COMPARISON | SLM | WDV | \t\t\tMeaningA method of depreciation in which the cost of the asset is spread uniformly over the life years by writing off a fixed amount every year.A method of depreciation in which a fixed rate of depreciation is charged on the book value of the asset, over its useful life.Calculation of depreciationOn the original costOn the written down value of the asset.Annual depreciation chargeRemains fixed during the useful life.Reduces every yearValue of assetCompletely written offNot completely written offAmount of depreciationInitially lowerInitially higherImpact of repairs and depreciation on P&L A/cIncreasing trendRemains constantAppropriate forAssets with negligible repairs and maintenance like leases, copyright.Assets whose repairs increase, as they get older like machinery, vehicles etc.\t|
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| 3798. |
Question no 1 page no. 22.82 of dk goel cbse |
| Answer» Here we do trading profit and loss account , valance sheet. | |
| 3799. |
How to find commission give to manager after find net profit |
| Answer» First find N.P and then use formula (rate/100+rate)xNP | |
| 3800. |
Who found accountancy |
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Answer» Luca Pacioli Lucious Paciolie |
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