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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Completed 3000 on vehicle maintenance @ 10000 for conveyance @ 20000 for travelling expenses @ 45000 for advertising compaign for launching new product at the rate of 2 lakh to purchase plant and machinery and @ 7000 for Octroi expenses for plant and machinery . what will be the amount of the deferred expenditure.option -a) 45000b) 40000C)33000d)78000kindly mentioned the the ans with Solution as well ... |
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Answer» Explanation: completed 3000 on vehicle maintenance @ 10000 for conveyance @ 20000 for travelling expenses @ 45000 for advertising compaign for launching NEW product at the rate of 2 lakh to purchase plant and machinery and @ 7000 for Octroi expenses for plant and machinery . what will be the amount of the deferred expenditure. option - a) 45000 b) 40000 C)33000 d)78000 kindly MENTIONED the the ans with Solution as well . Your question is BRILLIANT so please MARK my answer as brilliant |
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| 2. |
Additional capital is introduced into buisness 100000in journals entry |
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Answer» Answer: Explanation: while introducing capital, the firm receives CASH and an increase in asset is debited, therefore cash is debited. Capital being LIABILITY of the firm (as per business ENTITY principle) is INCREASED and an increase in liability is always credited, therefore capital is credited. |
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| 3. |
Q7. Khadi and Village industries, being a part of MSME, were facing some issues related to sales withbig brand apparel industry competitors. The length of production is small and labour intensivewhereas the inventory holding period and average collection are huge. Reducing operations is alsonot a way to deal in this situation.You are appointed as a finance manager in the company to deal with the problem of Working CapitalManagement. You further faces the problem of compromising between liquidity and profitability. Whatstrategies you would adopt as finance manger to solve this problem. |
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| 4. |
How the Personal Judgement of an accountant affects the accounting information and how it affects valuation of stocks?? |
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Answer» How the personal.judgement of an ACCOUNTANT AFFECTS the ACCOUNTING INFO and how it affects valuation of stocks |
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| 5. |
Everything a firm owns it also owes to somebody this coincidence is shown by which concept |
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Answer» Answer: Everything a firm OWNS, it also owns out to somebody. This co-incidence is explained by thedual aspect concept. The CONSISTENCY concept STATES that if STRAIGHT LINE method of depreciation is used in one year, then it should also be used in the next year. |
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| 6. |
Explain the concept net capital employed |
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Answer» Generally, capital employed is PRESENTED as deducting the current liabilities from the current assets. It can be defined as equity plus loans which are subject to interest. ... It ALSO REFERS to the value of all assets (FIXED as well as working capital) employed in a business. |
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| 7. |
Goods costing 5000 were taken by Adityafor personal use and cost price of stock was 40000 over the past few years how to do this |
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Answer» SORRY I can not answer. |
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| 8. |
Furniture purchased for Rs 7000 & cartage paid Rs 1000 to bring it to the office, will be recorded together in the books of accounts.which accounting principle/assumptionis this |
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Answer» Principal of conservatism is USED . Hope it HELPS you |
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| 9. |
Are factory overheads expenses |
Answer» Factory overhead is the costs incurred during the manufacturing process, not including the costs of direct labor and direct materials. Factory overhead is normally aggregated into cost pools and ALLOCATED to units produced during the PERIOD. ... Examples of factory overhead costs are: Production supervisor salaries.⭐♥️ Please MARK Me As BRAINLIEST ♥️⭐ |
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| 10. |
calculate debt equity ratio from the following: tangible fixed assets 2450000, intangible fixed assets 300000, current assets 334000, current liabilities 84000, long term borrowing 1600000, long term provision 150000 |
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Answer» Explanation: From the following information, compute Debt-Equity Ratio: Long Term Borrowings - 2,00,000 Long Term Provisions - 1,00,000 Current Liabilities - 50,000 Non-current-Assets - 3,60,000 Current-Assets - 90,000 (b) The current ratio of X. Ltd is 2 : 1. STATE with reason which of the following transaction would (i) increase; (ii) DECREASE or (iii) not change the ratio. (1) Included in the TRADE payables was a bills payable of Rs 9,000 which was met on maturity. (2) COMPANY issued 1,00,000 equity shares of Rs 10 each to the Vendors of machinery purchased. December 26, 2019avatar Aiswaryaa Kamlesh SHARE ANSWER Debt- Equity Ratio = Shareholder ′ sFunds Long−TermDebt
Total Assets = Total Liabilities + Shareholder's Funds Total Assets = Current Assets + Non-Current Assets = 1,80,000 + 7,20,000 = 9,00,000 Total Liabilities = Long Term Borrowings + Long-Term Provisions + Current Liabilities = 4,00,000 +2,00,000+1,00,000 = 7,00,000 Therefore, Shareholder's funds = Total Assets Total Liabilities = 9,00,000 7,00,000 = 2,00,000 Long-Term Debt = Long Term Borrowings + Long-term Provisions = 4,00,000+2,00,000 = Rs 6,00,000 Therefore, Debt -equity ratio = 2,00,000 6,00,000
=3:1 (b) Current ratio = CurrentLiabilities CurrentAssets
(1) A bill payable of Rs. 9,000 was met on maturity will affect: 1.Trade Payable will reduce by Rs.9,000 2.Cash will reduce by Rs.9,000 Simultaneous decreases in current assets and current liabilities will improve current ratio Issue of share of Rs.10,00,000 to vendor of machinery will affect the following 1.Increases on the balance of machinery 2.Increase in the amount of share capital This transaction will NEITHER affect current liabilities nor current assets.Thus ,current ratio will remain unchanged. |
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| 11. |
Goods withdrawn by J.Smith for personal use of sale price of 1,200.sale price is cost plus 20%what will be the journal entries? |
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Answer» To PURCHASES a/c 1000
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| 12. |
Full explanation of gst and howto adjust when it is given in final accounts adjustments |
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| 13. |
Goods costing rs.24000 sold at a profit of 50%. Half the payment received in cash. What is the amount of debtors? |
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Answer» Answer: I don't understand what do you MEAN to SAY. I think SOMETHING is wrong. |
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| 14. |
Why accounting is significance and how can affect this in daily life. |
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Answer» HOPE THIS WILL HELP YOU PLEASE NOTE THIS AS THE BRAINLIEST ANSWER THANK YOU VERY MUCH FOR THIS |
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| 15. |
What does set off againist mean in gst |
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Answer» Answer: Set off means tax COLLECTED at the time of SALE of GOODS is set off against the tax PAID at the time of purchases of goods. |
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| 16. |
Please What will be entry for 3rd one? |
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Answer» Explanation: To drawings a/c. 1200 |
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| 17. |
AAns Goodwill 3,63,0.5. Following information is available about the business of a firm:(0) Profits : In 2016, 340,000; In 2017. 50,000; In 2018, 260,000, (ii) Non-recurring income of 1,000 is included in the profits of 2017, (ii) Profits of 2016 havebeen reduced by R6,000 because goods were destroyed by fire, (iv) Goods have notbeen insured but it is thought to insure them in future. The insurance premiumestimated at 400 per year, (v) Reasonable remuneration of the proprietor of businessis 6,000 per year, but it has not been taken into account for calculation of abovementioned profits, (vi) Profits of 2018 include 5.000 income on investment.Goodwill is agreed to be valued at two years' purchase of the weighted averageprofits of the past three years. The appropriate weights to be used are:- |
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| 18. |
General the following transaction 2015March 1 Mr Prasad committed cash salesbusiness with cash 150002 deposit deposited in bank account 150005 brought furniture by cheque 20008 sold goods to Arun and Co 250010 paid kottak by cheque 925 discount15 cash sales 2500018 withdraw goods for personal use 50025 paid for advertisement 50028 withdraw from bank for office use thousand31 received commission 1500 |
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Answer» EXPLANATION:I AM SORRY I DONT KNOW THE ANS IF I HAD KNOWN I WOULD HAVE SURELY ANSWERED IT....................... |
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| 19. |
UNLQ8. Which one of the following is correct?(i) Liquidity ratios measure long term solvency of a con-cern.(ii) Inventory is a part of liquid assets.(ul) Rule of thumb for acid test ratio is 2:1.(iv) The amount of gross assets is equal to net capitalemployed.A. (i), (ii) and (iv)B. (ii), (iii) and (iv)C. (i), (ii), (iii) and (iv)D. None of the above |
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| 20. |
7areSjay and rejooglein thethe Yearcalalate Intrestle portonsھےSharring profilsrstio o 3:2 Sjoy doraming duringmereon their drawingsclored at the end of marchper annumseruming that books are30/6/2012E goo1/9/20/211/11/20127 4.50031/3/2013F1,000oo it's accounts subject |
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Answer» Answer: Rakesh and Roshan are partners, SHARING profits in the ratio of 3:2 with capitals of Rs 40,000 and Rs 30,000, respectively. They WITHDREW from the firm the following amounts, for their personal USE: Rakesh Month Rs
May 31, 2016 600
June 30, 2016
August 31, 2016 1,000
November 1, 2016 400
December 31, 2016 1,500
January 31, 2017 300
March 01, 2017 700 Rohan At the beginning of each month 400 Interest is to be charged @ 6% p.a. Calculate interest on drawings, assuming that book of accounts are closed on March 31, 2017, every year. SOLUTION Rakesh’s Interest on Drawings
Drawings × Period Product 31 May 2016 to 31 March 2017 600 × 10 = 6,000 30 June 2016 to 31 March 2017 500 × 9 = 4,500 31 August 2016 to 31 March 2017 1,000 × 7 = 7,000 1 November 2016 to 31 March 2017 400 × 5 = 2,000 31 December 2016 to 31 March 2017 1,500 × 3 = 4,500 31 January 2017 to 31 March 2017 300 × 2 = 6,00 01 March 2017 to 31 March 2017 700 × 1 = 700
Sum of Product 25,300 Interest = Sum of Product × Rate 100 Rate100 x 1 12 112 = 25,300 x 6 100 6100 x 1 12 112 = Rs 126.5 Interest on Rohan’s Capital = Total DRAWING × Rate 100 Rate100 x 13 2 × 12 132×12 = 4,800 x 6 100 6100 x 3 2 × 12 32×12 = Rs 156. Explanation: please mark me Brian list answer |
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| 21. |
in some cases outstanding subscription at yhe beginning of the year is not deducted why |
Answer» Outstanding Subscription at the BEGINNING: It is that amount of Subscription which due in Previous year and not received in Previous Year. Therefore, It is DEDUCTED while ASCERTAINING Subscription received during the Current Year and on the Other hand, it is shown on the Assets side of OPENING Balance Sheet.hope it helps you please mark me as BRAINLIEST please plz plz |
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| 22. |
14. Mudit ,Sudhir and Uday are partners in a firm sharing profits and losses in the ratio of 3:1:1. Theirfixed capital balances are *4,00,000, 1,60,000 and 1,20,000 respectively. Net profit for the yearended 31 March, 2018 distributed amongst the partners was 1,00,000, without taking intoaccount the following adjustments:(a) Interest on capitals @ 2.5% p.a.(b) Salary to Mudit 18,000p.a. and commission to Uday 12,000(c) Mudit was allowed a commission of 6% of Divisible profit after charging such commissionPass a rectifying journal entry in the books of the firm. Show working clearly. |
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Answer» HDYRUTU HEYEHEEEYRRREEER Explanation: brb4tiri |
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| 24. |
A, B, C sharing profit and losses in ratio of4: 3:2, decide to share profits & losses in the ratioof 2: 3:4 with effect from 1st April, 2019. An extractof their balance sheet as at 31st March, 2014 is:BISسلننلطمياAsutInvestmentRA200000Investmentfluctuation reserve 18000 |
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| 25. |
The following data relate to the manufacturing of a standard product during the four weeks ending |
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| 26. |
Why is said that tha management of principle are universil |
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Answer» Answer: principal of management are statement that are based on a fundamental truth. these principal of management serves as a guideline for decision making and management ACTION these are drawn up by MEANS of OBSERVATION and analysis of event that manager encounter in practice.henery fayol SET a rule and plan to ACHIEVE desired goals that's why principal of management are universal. |
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| 27. |
In a certain code language VAX is coded as 45 and SIN is coded as 24. How WON coded in that codelanguage?(1) 22(2) 23(3) 21(4) 25 |
Answer» WON coded in that code language is 22.Explanation: We are given that in a certain code language VAX is coded as 45 and SIN is coded as 24.
V ⇒ 22nd letter in alphabet A ⇒ 1st letter in alphabet X ⇒ 24th letter in alphabet Now, if we add POSITION of V and X and SUBTRACT position of A from it , we get code of 45, that is; ⇒ 22 + 24 - 1 = 45
S ⇒ 19th letter in alphabet I ⇒ 9th letter in alphabet N ⇒ 14TH letter in alphabet Now, if we add position of S and N and subtract position of I from it , we get code of 24, that is; ⇒ 19 + 14 - 9 = 24 Now, WON coded in that code language will be; W ⇒ 23rd letter in alphabet O ⇒ 15th letter in alphabet N ⇒ 14th letter in alphabet Now, if we add position of W and N and subtract position of O from it , we get code of; ⇒ 23 + 14 - 15 = 22 |
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| 28. |
Subscription received during the year ended 31\2006 by collidance were as follows2005 3000/= 2006 93000/= 2007 2000/= the club has 500 members each paying @200 as annual subscription.subscription outstanding as on dec 31\2005 are 6000/= calculate the amount of subscription to be shown in income and expediture for the year ended dec 31/2006 and show the relevant data in the balance sheet |
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| 29. |
List down 5 goods and/or services that may be made available to your family:direct real income And indirect real incomeExplain in a sentence how each type of income helps in the use of your money income |
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| 30. |
Q8. Working capital is considered as excess of Current assets over current liabilities but companieslike HUL, Godrej, Bharti airtel, Hero Motorcorp, faces negative working capital in their operating life. Thus their current liabilities exceed their current assets in some years. What is your belief in this regard, can working capital ever be negative or Zero for any company? If yes than what shall be the repercussions if a company has (a) dearth of Working Capital and (b) overload of Working Capital? |
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Answer» Answer: Hello MATE.. Explanation: Main Components of Working CAPITAL – Explained! CASH Management: Cash is one of the IMPORTANT components of CURRENT assets. ... Receivables Management: The term receivable is defined as any claim for money owed to the firm from customers arising from sale of goods or services in normal course of business. ... Inventory Management: ... |
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| 31. |
Describe prefrential creditors according to the companies act |
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Answer» Answer: A PREFERENTIAL creditor (in some jurisdictions CALLED a PREFERRED creditor) is a creditor receiving a preferential right to payment upon the debtor's bankruptcy under applicable insolvency laws. In most legal systems, some creditors are given priority over ordinary creditors, either for the whole amount of their claims or up to a certain value. In some legal systems, preferential creditors take priority over all other creditors, including creditors holding security, but more COMMONLY, the preferential creditors are only given priority over unsecured creditors. In English law the concept was FIRST introduced for personal bankruptcy in 1825 pursuant to the Bankrupts (England) Act 1825, and for companies in 1888 pursuant to the Preferential Payments in Bankruptcy Act 1888. Prior to that, all unsecured creditors ranked equally and without preference in a series of statutes stretching back to the Statute of Bankrupts 1542. |
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| 33. |
What is your belief in this regard, can working capital ever be negative or Zero for any company? Ifyes than what shall be the repercussions if a company has (a) dearth of Working Capital and (b) overload of Working Capital? |
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Answer» Answer: options b is correct answer... HOPE IT WILL HELP YOU ❣️.. PLZ MARK AS BRAINLIST ANSWER ❣️❣️.. PLZ FOLLOW ME ✔️✔️✔️✔️ |
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| 34. |
GUYS , PLZZ TELL ME WHAT IS THIS FAST. I NEED JUST NAME IN DETAILS. |
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Answer» that is not RELATED to accountancy Explanation: |
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| 36. |
What is summarising of transaction |
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Answer» ➡️ Transaction Summary report ENABLES you to view transaction totals by card TYPE, transaction type, and result code for a specified time period. ✪Transaction reports SHOW daily account activity for the period that you specify. |
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| 37. |
Anuj started business with cash 100000 tell which account should involved |
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Answer» Answer: cash a/c Dr 1,00,000 to capital a/c 1,00,000. |
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| 39. |
. ‘A’ Firm purchased the assets from ‘B’ Limited for Rs.5,40,000. ‘A’ Limited issued 10% debentures of Rs.100 each at 10% discount against the payment. The number of debentures received by ‘B’ Limited will be: |
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Answer» Answer: 60000 debentures Explanation: A bought FURNITURE from B worth Rs 540000 A ISSUED 10% Debentures worth Rs100 each but with discount of 10% 100-10℅ = 90 so each debenture is worth Rs 90 540000/90=60000 |
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| 40. |
Which of the following is Not the method of costing |
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Answer» GIVE me the OPTION then MARK it as a BRAINLIEST |
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| 41. |
P, Q, R were partners sharing profits and losses in ratio of 4:3:1.the partners agree to share future profits in ratio of 5:4:3.calculate each partners sacrifice or gain due to change in ratio. |
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Answer» Answer: Gaining Ratio = 3/24 Explanation: (-)= Gain P Q R Sacrifice Ratio=OLD - NEW OLD 4/8 3/8 1/8 ⇔ If sacrificing ratio is greater than new ratio NEW 5/12 4/12 3/12 then earlier the sacrificing partner was holding greater S/(G) 1/24 2/24 (-3/24) share and greater power of autonomy. |
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| 42. |
The portion of the Authorized capital which can be called -up only on the liquidation of company is known as__________ * |
Answer» hdhdnzje I am not able to get a chance betala tar nako aati me to send Kar rahi Hegde to the day of school and guide Ka hai account and guide Ka veer off aayi to nhi hogi but it was a chance I can also use the same here only by his name and password secret of school SE Kuch nhi hai kya tere ko bolo Uske Ghar pe hi I have not HEARD BACK from HOME hai Mamu business me know if u know what you want to take care number hai tumare mobile me hai lseilye srif timepass karte wo log in your life your life zig zag the Day mahira to be with you and the day and I will be able to make sure what to say a prayer Sunday haiz ye msg aaya hai Mamu business development consultant note to protect against to be with your life your support and receive replies faster the Day the earth don't fall off aayi n the Day mahira to the same to the same room as well as a chance to get a new one day of school and guide Ka bheji enduva email id se BAAT Karni hAi to the kya Kar rahe hai wo baut dhuk rahe hai bolo me to do or not or if I can uueyri the yehhrjdidyruei I am in the evening of the Day mahira to be able to do it EVERYDAY life zig zag to the kya hai ye number of the Day the day before and guide Ka bheji enduva vechad to be with your company and I am in need of you and with the faculty of medicine and I am in the day of them are |
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| 43. |
Working capital is considered as excess of Current assets over current liabilities but companieslike HUL, Godrej, Bharti airtel, Hero Motorcorp, faces negative working capital in their operating life.Thus their current liabilities exceed their current assets in some years.What is your belief in this regard, can working capital ever be negative or Zero for any company? Ifyes than what shall be the repercussions if a company has (a) dearth of Working Capital and (b)overload of Working Capital? |
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Answer» No WORKING CAPITAL income cannot be zero . working income is very IMPORTANT factor in factories . it should be OPTION a Hope My answer helps you Please mark it as Brainliest |
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| 44. |
Working capital is considered as excess of Current assets over current liabilities but companies like HUL, Godrej, Bharti airtel, Hero Motorcorp, faces negative working capital in their operating life. Thus their current liabilities exceed their current assets in some years.What is your belief in this regard, can working capital ever be negative or Zero for any company? If yes than what shall be the repercussions if a company has (a) dearth of Working Capital and (b) overload of Working Capital? |
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Answer» Answer: YES, possible Explanation: Yes it is possible for a company to have zero or negative working capital. Working capital TAKES account of the assets of the company as well as its liabilities. When the liabilities are more than the assets in hand, then the company WOULD have zero or negative working capital. If a company has negative working capital, it will hamper its LONG term investments and financial growth. Higher the working capital, more will be its potential to grow in the business |
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| 45. |
Which of the following is an example of unsystematic risk?a)Interest rate fluctuations b)Political uncertaintyc)Increased steel price d)Global economic Crises |
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Answer» . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .......... . .. .. .. . .. |
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| 46. |
An insurance company found that 35% of all insurance policies are terminated before their maturity date. Assume that ten polices are randomly selected from the company’s policy database. Out of the ten randomly selected policies; a) What is the probability that at least eight will not be terminated? (b) What is the probability that more than three but less than seven policies will be terminated? |
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Answer» Answer: |
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| 47. |
The relationship between security returns and market returns is shown by____A- RFB-RMC-Rm- RfD- Beta |
Answer» HEY mate here is your ANSWER:-the RELATIONSHIP between security returns and market returns is shown by -:D) Beta |
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| 48. |
Which accounts are open when the capital accounts is fluctuating |
| Answer» CAPITAL ACCOUNT is USED when capital account is FLUCTUATING | |
| 49. |
A tight working capital policy will lead to ____?A- Low DebtorsB-Low InventoryC- Low inventory carrying outD-All of the above |
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Answer» d is the CORRECT answer I THINK so |
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| 50. |
Sharingdatidof Ciz3oo, ooo &Jyoti and namrata werepartnersprafitand lones inon Ist april 2019 their capitalaccount shamedbalance of800100 respectivelyTheprovided fardintrest on Capital @Loyand the firm earned aprefit of 450,00 for theyearended 31 st March 2020.partners |
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Answer» jdksihdjsisjjwjdjaksijwbsnxks |
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