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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.
| 4001. |
Why input gst account is credited when proprietor takes goods for personal use |
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| 4002. |
State what is the end product of financial accounting? |
| Answer» Balance Sheet− It depicts the true financial positions of a business that provides required information like assets and liabilities of a business firm, to the users of accounting information like owners, creditors, investors, government, customers, shareholders etc. | |
| 4003. |
Kindly suggest me a book for accounts......please |
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Answer» PRACHI V.K.PUBLICATIONS T.S. Grewal dk goel T.S.Grewal |
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| 4004. |
Plz send solution of class 11 question paper of 2018-2019 session of chandigarh |
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| 4005. |
accounting equation practical question 2 |
| Answer» What do you need in this question? | |
| 4006. |
Information in financial reports is based on |
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| 4007. |
Sold goods for cash ₹3600, out of which ₹2000 is deposited in bank |
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| 4008. |
format of balancesheet as per company act 1956 |
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| 4009. |
Numerical of accountancy |
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| 4010. |
I used dk goel book but here is no solution of this book |
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| 4011. |
Acounting eqaution , |
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Answer» Assets=liability +capital Assests = capitol + liability |
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| 4012. |
Discount receive for 10000 |
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Answer» To Discount received a/c Creditor\'s personal a/c dr |
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| 4013. |
practical problems of ch 8 |
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| 4014. |
Jounral chapter all question gave answer |
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| 4015. |
Journal and ledger |
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| 4016. |
Difference btw acruel basis and cash basis of accounting |
| Answer» \tCash Basis of AccountingAccrual Basis of AccountingOnly cash transactions are recorded in the books of accountsAll cash and non-cash transactions are recorded in the books of accountsCorrect profit or loss is not ascertained because it records only cash transactionsCorrect profit or loss are ascertained because of the complete record of all the transactionsEntries are made only when cash is received or paidEntries are made on accrual basis i.e. all transactions are recorded in the books of accounts whether incurred or earnedIt is rarely usedIt is widely usedIt is recognised under Companies Act, 1956It is not recognised under Companies Act, 1956\t | |
| 4017. |
What is the syllabus of class 11 commerce in2019 |
| Answer» Visit in cbse.nic.in you will perfectively get your answer. | |
| 4018. |
What are liabilities |
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Answer» These are those goods and services which the person dept and promised it to pay or return it in a fixed duration of time. The money or goods taken from anyone on credit is called liability The economic value of an obligation or debt that is payable by the enterprise to other establishment or individual is referred to liability. To put it in other words, liabilities are the obligations that are rising out of previous transactions, which is payable by the enterprise, through the assets possessed by the enterprise. |
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| 4019. |
Accountancy class11 ch -9 parctical questions |
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| 4020. |
What is a joint venture |
| Answer» (1) Two or more individuals or enterprises, either private or government, owned or a foreign company joining together through participation in equity capital for achieving a common target and mutual benefit is known as joint venture.(2) Joint venture involves pooling of resources and expertise as well as sharing of risks and rewards by these enterprises.(3) These enterprises agree to join together for the expansion of business, development of new products or for penetrating into new foreign markets.(4) Joint ventures are formed either for long-term projects or for short-term projects.(5) The basic purpose of joint ventures is to attain a strong position for both the enterprises. | |
| 4021. |
What is the difference between accounting and accountancy |
| Answer» Accounting is an art of Identifying, Classifying, Summarizing, Recording, Interpreting, Analysing and Communicating.Accountancy is a subject which teach us the systematic manner of accounting. | |
| 4022. |
Paid the due amount to M/s S. Singh & co after availing discount of $ 400 |
| Answer» You must find all the entries related to m/s singh and co and then this que could be solved.for example -Amount due to m/s singh and co is Rs. 40,000And discount availed is Rs. 400So the journal entry will be as under ---M/s singh and co. Dr. 40,000 To cash/bank a/c 39,600 To discount received a/c 400Explanation-M/s singh and co is debited because he is the received.Cash or bank a/c is credited because cash is going out.Discount received is credited because it is a gain. | |
| 4023. |
Difference between capital and revenue expenses |
| Answer» The expenses incurred in acquiring a Fixed\xa0Asset or improving the capacity of an existing asset, resulting in the extension in its life years is known as the Capital Expenditure like Furniture, Building etc. On the other hand,\xa0the Expenses incurred in day to day activities of the business are known as revenue expenditure like salaries, rent etc. | |
| 4024. |
What type of transactions do we record in books of account |
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Answer» monetary nature Joneral transaction Financial transaction or finanacial events |
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| 4025. |
What type of transactions do record in books of account |
| Answer» Those which can be measured in monetery terms... Ex:- salary given to the employee can be recorded in books of account but their punctuality can\'t be measured in monetry terms | |
| 4026. |
What is meant by summarization of accounting information ? |
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| 4027. |
Which things has no effect on liabilities +capital and why?? |
| Answer» Debtors converted into bill recebable and cash deposited or withdraw from bank | |
| 4028. |
What is the name of... Father of accounts? |
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Answer» Accountancy Luca Pacioli is the father of accounting |
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| 4029. |
what is the external users |
| Answer» External users are secondary users such as creditors, customers, investors, tax authorities, etc | |
| 4030. |
What is ledger Account |
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| 4031. |
General Entry kya huta ha |
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| 4032. |
Is it possible to pass a single journal entry for two or more transactions? |
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| 4033. |
Enter the following transactions in the journal of Ganesh bros. |
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| 4034. |
Describe the fundamental accounting equation how are revenue and expenses related to it |
| Answer» plz answer the question | |
| 4035. |
Describe the fundamental accounting equation how are renewable and expenditure related to it |
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| 4036. |
Plz send comprehensive project also |
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| 4037. |
What will be the entry of this transaction , transaction is invested in shares (personal) 50,000 |
| Answer» It will be regarded as furthur capital.So it will be added to asset (cash) and capital of the owner | |
| 4038. |
Examples of cash transactions |
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Answer» Sold goods costing 2000 in 3000 to ramesh against cash Purchase goods for Rs.20000 on cash Selling & buying of goods |
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| 4039. |
What would be the acc. Eq. Of bills recievable |
| Answer» It will be added to asset side(cash) and capital of the owner | |
| 4040. |
End product of financial accounting |
| Answer» Balance Sheet− It depicts the true financial positions of a business that provides required information like assets and liabilities of a business firm, to the users of accounting information like owners, creditors, investors, government, customers, shareholders etc. | |
| 4041. |
Distinguish between stock and inventory |
| Answer» Inventory:Inventory includes a small business’s finished products, as well as the raw materials used to make the products, the machinery used to produce the products and the building in which the products are made. In other words, anything that goes into producing the items sold by your business is part of its inventory.Stock:Stock is the finished product that is sold by the business. In some cases, stock is also raw materials, if the business also sells those products to its customers. For example, a car dealership’s stock includes cars, but also can include tires, engine parts or other car accessories.Differences Between Inventory and Stock:While stock deals with products that are sold as part of the business’s daily operation, inventory includes sale products and the goods and materials used to produce them. For example, the cars, car parts and accessories are sold during normal business practices, but the machines that run diagnostic tests on cars or the car lot itself are not. Inventory takes in account all of the assets a business uses to produce the goods it sells and determines the sale price for the stock. The stock determines the amount of revenue a business generates. The more stock that is sold, the higher the revenues. | |
| 4042. |
What is the reason that the capital expenditure is shown in the Balance Sheet? |
| Answer» Amount spent on acquiring or erection of fixed assets is termed as capital expenditure. Such expenditure is shown in the assets because it yields benefit over a long period of time. | |
| 4043. |
What value you except from the good accountant |
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| 4044. |
Explain the quantitative expression of accounting |
| Answer» Quantitative analysis is a mathematical and statistical method of studying behavior and predicting outcomes that investors and management use in their decision-making process. | |
| 4045. |
Explain the different steps of accounting process |
| Answer» The steps involved in the process of accounting are as follows:\tIdentifying the financial transactions.\tRecording these transactions in the books of accounts.\tClassifying the recorded entries in separate accounts.\tSummarising the classified records.\tAnalysis and interpretation of financial statements.\tCommunicating the accounting information\xa0to the users | |
| 4046. |
Draw a chart showing accounting process |
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| 4047. |
What is accounting process |
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Answer» Thanks a lot dearSia?? The accounting process is a series of activities that begins with a transaction and ends with the closing of the books. |
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| 4048. |
What is the end product of accounting?? |
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| 4049. |
Define meeting legal requirement |
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| 4050. |
Chapter accounting equations |
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