Saved Bookmarks
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. |
3. The amount withdrawn by the owner of the business forpersonal use is called.............. |
|
Answer» Answer: SEARCH Results Featured snippet from the web Withdrawal of money and/or GOODS by the OWNER from the business for personal USE is KNOWN as drawings Explanation: |
|
| 2. |
Following is the balance of Sai ram as on 31st March 2017.prepare trading and profit and loss account and balance sheetCapital one lakh12% loan from Ajay 15000Commission received 4500sundary creditors 10,000Discount received 3000Sales 100000Opening stock 25000Establishment exp 15000Bank balance 20000Drawings of 18000Buildings of 15000Furniture 27500Motorvan 25000Interest on loan from Ajay 900Purchase 75000Wages 2000Sundary debtors 28100Insurance thousandAdjustment A) the value of stock on 31-3-2017 was 32000 rupeesB) outstanding wages 500 prepaid insurance 300C) depreciate building at 10% and motorvan and 20%D) provide reserve for bad habits at 5% on debited |
|
Answer» 2000+75000+28100+32000 |
|
| 3. |
Analysis of owner fund and borrowed fund is called as |
|
Answer» Owners fund refers the FUNDS invested by the company owners for its development. EXAMPLES include equity and preference share capitals and RETAINED earnings. Borrowed fund refers to funds raised through BORROWING and loans. These include loans from financial institutions. |
|
| 4. |
Revenue for operation is 500, and other income is 500. what is the total revenue |
| Answer» | |
| 5. |
BIGE:JQOM :: RYWU: ?(a) ZGEC(b) ZFDB(c) ZYVX(d) AGFD |
|
Answer» answer is (a). here is your answer. Mark as BRAINLIEST |
|
| 6. |
Give ans with reason immidiately |
|
Answer» HAIR. Explanation: all the other OPTIONS are a not a part of the BODY.hair is the part of a body. so it is the odd ONE out. pls mark it as a brainliest answer. |
|
| 7. |
Q. 11 Capital in the beginning is Rs 1,40,000, Creditor at the end Rs 1,00,000 ; Revenue during the period Rs 1,00,000 andexpenses during the period are Rs 80000.Owner's capital at the end Rs 4,20,000. True or false |
|
Answer» TRUE......... ..................... |
|
| 8. |
Bad Debts arise from Credit Sales. True or false |
|
Answer» True hope it helps. please MARK it as BRAINLIEST answer. |
|
| 9. |
What is the ideal standard of proprietary ratio? a)75% b)50% c)25% d)80% |
|
Answer» SORRY I can't your answer she |
|
| 10. |
Adjustment: uninsured goods worth 8000 were stolenhow do i put it in the final.acc |
|
Answer» goods LOST by theft A/c Dr 8000 To PURCHASES A/c 8000 (being good lost by theft) since goods were lost they should be DEDUCTED from purchases hope it helps you out MARK as BRAINLIEST pls |
|
| 11. |
What is prepared instead of balance sheet in single entry system? |
|
Answer» Answer: Although Statement of Affairs, like Balance Sheet, shows assets and liabilities yet it is not a Balance Sheet.It is so because the values of the assets and liabilities, shown in the Statement of Affairs are merely the result of estimates made by the OWNER and no Ledger Accounts exist for them. Since, these amounts are not DRAWN from the accounts, they cannot STRICTLY be called balances and their depiction as liabilities and assets in a Balance Sheet. please mark me BRAINLIEST! |
|
| 12. |
Example of increase in liability and decrease in capital |
|
Answer» Answer: INCREASE in ONE liability DECREASE in ANOTHER liability bills payable issued to creditors this is reduced one liability on the one hand |
|
| 13. |
Write journal Paid cash to hari and received discount |
Answer» ✧☞being CASH RECEIVED from ram)As cash is a current asset we will DEBIT cash as there is an increase, this completely BASED on the rules of accounting▽ ▽ ✧ ✧ ✧ |
|
| 14. |
Ph pharingratiochangeExplain AllooAl conting treatement of Goodwill hapartnerthe help of imaginary figures.with |
| Answer» | |
| 15. |
Q. Bhashkar is a partner in a firm. He withdraws 6,000 in the beginning of each month for 12months. The books of the firm closes on 31st March every year. Calculate interest on drawingsif the rate of interest is 10% p.a.[Ans. Interest on Drawings 3,900.]the |
|
Answer» SORRY I don't know can u please tell the QUESTION in explaination |
|
| 16. |
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? |
|
Answer» (a) |
|
| 17. |
State the principle which enables the comparison of the financial result inter- firm as well as intra firm. |
|
Answer» Answer: Intra-firm comparison means comparison of two or more DEPARTMENTS or DIVISIONS of the same business unit with the objective of meaningful ANALYSIS in order to IMPROVE the operational efficiency of all the departments or divisions. Both, the inter firm comparison and intra-firm comparison have the same objectives. please mark it brainlist answer ✏✏✏ |
|
| 18. |
Which transaction in accounting equation will decrease the asset and decreases the liabilities |
|
Answer» Answer: Cash paid to CREDITORS. Cash is an ASSET and if it's paid then its decreasing and Creditors is a LIABILITY which also DECREASES if they are paid. |
|
| 19. |
Book keeping is concerned with |
|
Answer» The COLLECTION of NEWLY PUBLISHED BOOKS. |
|
| 20. |
एक फ़र्म का विघटन किस प्रकार किया जाता है |
|
Answer» जब फर्म के सभी सहयोगियों के बीच संबंध समाप्त होता है, तो इसे फर्म का विघटन कहा जाता है भारतीय साझेदारी अधिनियम की धारा 39 में यह प्रावधान है कि "किसी फर्म के सभी भागीदारों के बीच साझेदारी का विघटन एक फर्म का विघटन कहा जाता है।" |
|
| 21. |
From the following particulars prepare bank reconciliation as on 31st December 2015Bank balance as per cash book was 15000Cheque issued but not cash prior to 31st December 2015 amounted to 2000 rupeesCheques paid into Bank not cleared and credited rupees 2800Cheque received but not send for collections 500Credit side of bank column cash short 50Issued at premium 300 debited in only passbookBank charges debited twice in the passbook 10A customer directly deposited in the bank account of concern was 2000 |
Answer» V. iisilaaooeooowalepirkw |
|
| 22. |
your management is interested in taking over a similier business and has handed over to you the published accounts of the firm for the last three years .as the financial analyst .what analysis you would look into before making any decision? |
|
Answer» Here are the top 10 finance must-haves that will put you in prime POSITION for a PROMISING CAREER in finance. A formal accounting qualification. ... Interpersonal skills. ... Ability to communicate. ... Financial REPORTING. ... Analytical ability. ... Problem-solving skills. ... Knowledge of IT software. ... MANAGEMENT experience. |
|
| 23. |
Explain in detail with reasons of what sectors are of which type of projects are suitable for project finance? |
|
Answer» Answer: please MARK me as brainlist Explanation: Project FINANCE is the long-term financing of infrastructure and INDUSTRIAL projects based upon the projected cash flows of the project RATHER than the balance sheets of its sponsors. ... The financing is typically secured by all of the project assets, including the revenue-producing contracts. |
|
| 25. |
Commerce account in 12class 2020 |
|
Answer» Explanation: HEY FRIEND PLZ see in google you will find your answer. Advice by Shachi Mishra plz don't forget to mark me as brainleast and VOTE me and THANKS me |
|
| 26. |
Give speciman of bank balance sheet on the basis of imaginery figures |
|
Answer» Answer : The balance SHEET of the bank is different from the balance sheet of the company and it is prepared only by the banks ACCORDING to the mandate by the Bank's REGULATORY Authorities in order to reflect the tradeoff between the profit of the bank and its risk and its financial health. |
|
| 27. |
Define rebate on bill dicounted and unexpired discounts |
Answer» here's your answer
hope it's HELPFUL for you ☺️ |
|
| 28. |
discuss the order of payment adopted by liquidator also discuss method of calculating the liquidator remuneration |
|
Answer» Explanation: Calculation Of Liquidator's Remuneration The liquidator's remuneration can be computed in the following ways: 1. Percentage On Assets Realized Here, assets realized means the amount collected from the realization of fixed assets, current assets and other assets, other than fictitious assets. The cash and bank balance should not be INCLUDED in total assets for the calculation of remuneration. But in the question, if the cash and bank balance are given in the list of assets, then cash and bank balance should be included in the total assets for the calculation of remuneration. In the case of collateral securities depositing against secured creditors, if nothing is mentioned in the question, the total assets should INCLUDE the full amount of collateral securities for the computation if remuneration. But if the securities are realized by creditors and only the surplus sent to the liquidator, then total assets should include only surplus amount realized from collateral securities. Thus the liquidator's remuneration is calculated as mentioned below: Liquidator's Remuneration= Assets realized X Remuneration Percent/100 2. Percentage On Amount Distributed To Unsecured Creditors Sometimes, the liquidator also receives commission on the amount distributed to unsecured creditors. For the computation of the commission, firstly the amount available for payment or surplus must be ascertained in the following way: Amount available for payment = Total receipts - Total payment( up to the payment made to debenture holders) Then amount available may or may not be sufficient for the payment of unsecured creditors amount. If the amount is sufficient, the commission is calculated as follows: Commission = Unsecured creditors X Commission rate/100 If the amount available is not sufficient for the payment of unsecured creditors, the commission will be determined as follows: Commission = Amount available X Commission rate/100+ Commission rate 3. Percentage On Amount Distributed To Equity Shareholders For the calculation of this commission, firstly the amount available for equity shareholders should be ascertained. For finding out the amount available for equity share holders, the following equation can be used: Amount available = Total receipt - Total Payment ( up to the payment made to preference shareholders) If the amount available is sufficient for the payment of equity share capital amount: Commission = Equity share capital amount X Commission rate/100 If the amount available is not sufficient: Commission = Amount available X Commission rate/100+ Commission rate Liquidation payment priority order – who gets what, and when When a company goes into liquidation, there is a DEFINED order of who gets what and when. Below we explain the rules governing the priority of payment to those owed money. Where a creditor stands in the order of payments to be made and what they are likely to receive DEPENDS on THREE things: The types of creditors involved in the process and what they are owed The size and value of the assets available, and how easily they can be turned into cash What fees will be incurred by a liquidator in carrying out their duties |
|
| 29. |
Define contributories of liquidation of company list of b contributory |
Answer» ANSWERShareholders who have transferred that partly paid shares WITHIN one year earlier to DATE of winding up will be placed in “B” List. Such contributories will be referred to as “B” List of contributories. Liquidator is expected to dispose the assets off to pay off liabilities.Explanation:✔✔HOPe its HELP you.✔✔✔ |
|
| 30. |
what do you understand liquiddator final statement account . when it is prepard how imaginery figures |
|
Answer» Answer: Liquidator's FINAL Statement of Account. The statement PREPARED by the liquidator showing receipts and payments of CASH in case of voluntary winding up is called “Liquidators' statement of account” (FORM No. 156 Rule 329 of the Companies Act, 1956). hope this is the solution of your question please follow me up |
|
| 31. |
What is liquidarion of companies various method liquadtion |
|
Answer» Answer: COMPANY Liquidation Types. Company Liquidation of an insolvent company has TWO types CREDITORS VOLUNTARY Liquidation and Compulsory Liquidation. Such a restart is sometimes KNOWN as a phoenix company. Company liquidation of a solvent company will use a Members Voluntary Liquidation. Explanation: this the correct information if the question hope you follow me |
|
| 32. |
Purchased goods from m/s hema traders 42000 |
|
Answer» it will HELP you to WRITE the answer of what is the QUESTION |
|
| 33. |
Mukund Iron Company is considering to install a New Machinery which cost Rs. 1,00.000. TheMachine has a life of 5 Years and has no Scrap value at the end of life. The company's tax rate is40% and uses straight line balance method for depreciation. The earnings before depreciation and taxwill be as below:Year+23EBITD&A (in Rs.)22.00022,00028.00030.00050.000You are required to calculatei) Pay back Period() NPV at 10% and 12% discount rate. |
| Answer» | |
| 34. |
What is meant by a products contribution margin ratio |
|
Answer» Answer: The contribution margin ratio is the difference between a company's sales and variable expenses, expressed as a percentage. The TOTAL margin generated by an entity represents the total EARNINGS available to pay for fixed expenses and GENERATE a profit. I hope you LIKE it Stay home and stay safe |
|
| 35. |
Mr. Jahanzaib inherited Rs.10,550,000 and started the business of a construction machinery distributor on 1 July 2020. The following transactions were entered into during the month of August 2020:i. Bought Machine A for cash (Rs.3,000,000) and Machine B (Rs.2,500,000)ii. Sold Machine C for Rs.4,500,000 cashiii. Received a telephone bill for Rs.100,000 which he paidiv. Sold Machine D for Rs.1,800,000v. Drew Rs.600,000 in cash from the businessvi. Bought a Machine E for Rs.5,600,000 cash vii. Opening inventory on 1 August was Rs.4,000,000 General Entries for this question please. |
| Answer» | |
| 36. |
J & K Ltd. Provided the following information related to the book values of debentures andequityEquity Share Capital40,00.00012% Preference shares10,00,00010% Debentures30,00,000The equity share of the company sells for Rs. 20 and company has taken decision of providingdividend of Rs 2 per equity share. The dividend will further grow at 5% forever. Tax rate is 35%. Youare required to compute weighted average cost of capital (WACC) based on the given informationCompany is planning to raise Rs 20,00,000 by issuing 12 % debentures, but then equity share pricewill fall to Rs. 16 per share and company has to increase dividend to Rs. 2.40, growth rate remainsunchanged. Do you think this will have some impact on WACC, if Yes, then calculate new WACC andcompare with the previous one. |
|
Answer» Six friends started a partnership business by investing Rs. 2,00,000 each. ... The following INFORMATION is PROVIDED on R's death: (i) ... 2, 00,00,000 Equity SHARES of Rs. 100 each. |
|
| 37. |
04. (a) "For most investment decisions that a firm faces. NPV is either a superior decision criterion orat least it is considered a good technique to decide for investment. What are your considerations? Doyou think that other techniques can also provide better results while taking investment decision? IfYes, please elaborate. |
Answer» NPV is either a superior decision criterionExplanation:NPV shows the time value of money and is suitable to be applied in cash inflows or cash flows at different PERIODS of time NPV is considered a good technique to decide for investment as it shows the objective of maximum profitability. For most investment decisions that a FIRM faces, NPV is either a superior decision criterion as it TAKES into account the earnings over the entire life of the project. The NPV method recognises the return on investment with the HELP of time element. To know more:Net present value of project evaluation Differentiate Net Present Value Methods, Profitability INDEX Method and Internal Rate of Return(IRR) technique of capital budgeting? |
|
| 38. |
(b) Following information in respect of Job No. 333 isgiven :MaterialsRs 5,800Wages:Department A- 100 hours @ Rs 5 per hourDepartment B- 200 hours @ Rs 3 per hourOverheads for the two departments are maintained as:(i) Variable overheads:Deptt A Rs 10,000 for 5,000 direct labour hoursDeptt B Rs 30,000 for 10,000 direct labour hours(ii) Fixed overheads:Rs 50,000 for 50,000 normal working hoursCalculate the cost of this job and also the price to becharged so as to give a profit of 20% on selling price. |
| Answer» | |
| 39. |
Subscription received during the year 2019-20: ₹ 1,50,000. Outstanding Subscription as on 31st march 2019:₹1,00,000. The amount shown as subscription receipt will be |
|
Answer» Answer: |
|
| 40. |
Q. 3. A company provides depreciation on plant and machinery at20% per annum on reducing balance method. On April 1, 2006, thebalance of Plant and Machinery Account was Rs. 5,00,000. It wasdiscovered in 2006-07 that:(i) Rs. 25,000 being repairs to machinery incurred on June 30,2004 had been capitalised.(ii) Rs. 50,000 being cost of a machine purchased on October 1,2003 had been treated as ordinary goods.Management wants to correct the mistakes while preparing ac-counts for the year ending March 31, 2007. A plant that costed Rs. 40,000on Sept. 30, 2005 was scrapped and replaced with a modern plant on31st December, 2006 by spending Rs. 60,000.Calculate the amount of depreciation for the year ended March 31,2007. Also prepare machinery account upto March 31, 2007.10Or |
|
Answer» I don't UNDERSTAND this QUESTION |
|
| 41. |
Q1 (a). Your management is interested in taking over a similar business and has handed over to youthe published accounts of the firm for the last three years. As the financial analyst, What analysis youwould look into before making any decisions?hl Mix |
Answer» I would look into a financial analysis before making any decisions.Explanation:
|
|
| 42. |
Q1 (a). Your management is interested in taking over a similar business and has handed over to youthe published accounts of the firm for the last three years. As the financial analyst, What analysis youwould look into before making any decisions ?Q1 (b). Mukund Iron Company is considering to install a New Machinery which cost Rs. 1,00.000. TheMachine has a life of 5 Years and has no Scrap value at the end of life. The company's tax rate is40% and uses straight line balance method for depreciation. The earnings before depreciation and taxwill be as below:Year+23EBITD&A (in Rs.)22.00022,00028.00030.00050.000You are required to calculatei) Pay back Period() NPV at 10% and 12% discount rate. |
|
Answer» Answer: FLOODS, storms, earthquakes, DROUGHTS, FOREST fires and VOLCANIC eruptions are among the most devastating types of natural catastrophe. But some disasters are man-made. These include explosions, MAJOR fires, aviation, shipping and railway accidents, and the release of toxic substances into the environment. |
|
| 43. |
External user of account is information are not |
|
Answer» Answer: Examples of internal USERS are owners, MANAGERS, and employees. External users are people OUTSIDE the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities. |
|
| 44. |
Q1 (a). Your management is interested in taking over a similar business and has handed over to youthe published accounts of the firm for the last three years. As the financial analyst, What analysis youwould look into before making any decisions |
|
Answer» Ratio analysis is primarily used to compare a company's financial figures over a period of time, a method sometimes CALLED trend analysis. Through trend analysis, you can identify trends, good and bad, and ADJUST your business practices accordingly. ... In many cases, these ADJUSTMENTS can significantly AFFECT the ratios. |
|
| 45. |
the liquidity of a business firm is measured by its ability to satisfy it's long term obligation as they become due what are the ratios used for this purpose? |
| Answer» | |
| 46. |
A and B are partners in a firm sharing profit and loss as 3:2. They admitted C as a new partner. The profit and loss sharing ratio shall be so adjusted that between A and B the former ratio is maintained, while between B and C there shall be the same ratio as between A and B. What will be the new profit sharing ratio of all partners. |
|
Answer» Answer: Cash a/c..... DR. 21000 To Premium for goodwill a/c 21000 (Being Premium for goodwill brought in by C) 2. Premium for goodwill a/c.... Dr. 21000 To A's Capital a/c 9000 To B's Capital a/c 12000 (Being premium for goodwill brought in by C, distributed among the partners in the RATIO 3:4) Working Note: A's old share= 3/5 B's old share= 2/5 C is admitted as a new partner. A's SACRIFICE= 3/5 * 1/5 = 3/25 B's sacrifice= 2/5 * 2/5 = 4/25 Sacrificing ratio= 3:4 C's share= 3/25 + 4/25 = 7/25 Hence, C's share of goodwill= 7/25 * 75000 = 21000 |
|
| 47. |
How Much Time it will take to check my passbook after activation of UAN on member home Portal of EPFO Site? |
| Answer» | |
| 49. |
Simran and Reema are partner sharing profit in the ratio of 3 is to 2 their capital as on 31 March 2019 where 2 lakh each where was current account had balance of 50000 and 25000 respectively interest on capital is to be allowed 5% the firm earned net profit of 300000 for the year ended 31 March 2020 appropriation account please give me |
|
Answer» Explanation: 50000 and Rs. 25000 respectively INTEREST is to be allowed @5% p.a on BALANCE in capital Accounts . the firm EARNED net profit of Rs. 3,00000 for the ... MArch , 2019 Pass the journal enteris for interest on capital and distribution of profit Also ... profit in the ratio of 3:2 their capital as on 31st March 2018 were Rs. 2,00,000 each ... |
|
| 50. |
Ram who owned debt is 20000 rupees become insolvent.Only 60 paise received his assets |
|
Answer» Answer: total debt (recoverable) = 2000 actually RECOVERED = 0.60 paise 2000×0.60= 1200 Non Recoverable= 2000-1200 = 800.. Amounts to Bad debts.. its a loss... The transaction affects three accounts... Rahul account (he owes MONEY) , CASH a/c(recieved 60 paise Per rupee) , Bad debts a/c( 0.40Per rupee is unrecoverable).. Rahul account is a Personal account (as the name suggests) cash account is a REAL account (All the assets and Liabilities come under Real account; cash is an asset) Bad debts account is a nominal account (All expenses incomes gains losses come under nominal account and Bad debts is a loss) The Three golden rules of accounting are.. Personal account - Debit the receiver credit the giver.. Nominal account - Debit All expenses and losses, credit All incomes and gains Real account - Debit what comes in ,credit what goes out. in contention with the above rules.. Rahul should be credited (he is the giver) Bad debts should be debited (its a loss) Cash should be debited (it is comingin). So the journal Entry will be... Cash a/c Dr 1200 Bad debts a/c Dr 400 To Ram a/c. 2000 (Being Ram account settled) Explanation: mark me as BRAINLIST |
|