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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. |
Merits and demerits of hire purchase system |
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Answer» Answer: In the given FIGURE, find angle QSRDraw a pair of tangents you are looking to cute to a circle of RADIUS 5 cm which are inclined to each other at an angle of 60°.Slide clips what's your NAME to DELETE themSlide clips to delete themSlide clips to delete them |
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| 2. |
Samples worth rs.5,000 distrubuted during a sale campign programme journal entry |
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Answer» Explanation: sorry |
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| 3. |
Calculate Liquid ratio from the following( up-to two decimal places):current Assets ₹ 1,26,000Inventories ₹2,000current Ratio 3:2 |
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Answer» Answer: f THREEFOLD SEE see mental I don't no Explanation: cast Ukraine seem to be cash on DELIVERY of the house is newely constructed airy house with a significant role of a person to how to get a person who has a significant of a significant of a person to how many congratulations on your account can and will be cash on delivery of the house is newely constructed airy house in this year of crops in a day or a year ke in the house is newely by adjective of the house and LOT to be cash on delivery of z |
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| 4. |
Operating Profit Ratio of Star td, is 20%. State, giving reason, which of the following transactions willincrease, b) decrease, or (c) not alter the Operating Profit Ratio.XPurchase of Stock-in-Trade ? 1,00,000.Purchase returns ? 20,000.Revenue from Operations on sale of Stock-in-Trade ? 1,25,000.Stock-in-Trade costing ? 25,000 withdrawn for personal use.Assuming that operating cost is variable, le, varies with Revenue from Operations..class12.. koi plz ans kr do |
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Answer» if AVAILABLE please LET us 5unj is a little better but still not received the answer is no but still not received the refund for the |
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| 5. |
28. Sudhir and Vishal are partners in a firm sharing profit & losses in the ratio of 2:1.On 31st Dec., 2017 their Balance Sheet was as follows:LiabilitiesAmountAssetsAmount₹₹Sundry CreditorsCapital a/cs :SudhirVishal65,900 Cash at BankSundry Debtors30,000 Plant & Machinery20,000 BuildingsStock1,2009,70035,00050,00020,0001,15,9001,15,900They admit Pankaj as a partner on following terms :(1) Pankaj is to get 1/3 share of profit and he will contribute * 15,000 as capitaland 6,000 as amount of goodwill for his share.(ii) Reduce Plant and Machinery and Stock by 10% and increase Building by20%(ii) Create a reserve of 5% on Sundry Debtors.(iv) Goodwill will not remain in the firm.Prepare Revaluation a/c and Partners’ Capital a/c.[Ans : Revaluation Profit-Sudhir 2,677, Vishal 1,338; Profit Sharing Ratio4:2:3](29 Ajay and Baldey are partners in a firm Their Balance Sheet as on 31st December |
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Answer» Answer: hum maths WALE hai GAJAB bezzati hai yar Explanation: |
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| 6. |
Which of the following is not recorded in petty cash book?(a) Payment of bank charges (b) Cartage (c) Postage (d) Cash withdrawn from bank. |
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Answer» mark me on BRAINLIST |
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| 7. |
Decrease in which of the following accounts, will be credited : -(a) Machinery (b) Creditors (c) Bank Loan (d) All of the above. |
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| 8. |
3 Give the accounting equation for the following transactions:1. Mr. Vaibhav started business with Cash 1,00,000.2. Purchased goods on credit from Rita Stores *9,000.3. Purchase Laptop for office use 10,000.4. Sold goods to Rina on credit 12,000.5. Received Interest 2,5006. Paid Telephone bill * 1,300. |
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Answer» CASH =92500. Goods=3000. credit=9000. capital=92500 |
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| 9. |
1. Explain the meaning of accounting.2. Discuss briefly the branches of accounting. |
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Answer» Answer: They may be owners, shareholders, management, suppliers, creditors, taxation authorities and VARIOUS GOVERNMENT agencies, ETC. There are three main ACCOUNTING branches, which INCLUDE financial accounting, cost accounting, and management accounting. |
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| 10. |
Define accounting? |
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Answer» ACCOUNTING is the process of RECORDING FINANCIAL transactions pertaining to a BUSINESS. |
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| 11. |
Increase in which of the following accounts :-(a) Capital (b) Drawings (c) Building (d) Cash. |
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| 12. |
The root of financial acconting system is ___________a.Social accounting b.stewardship accountingc.management accountingd.responsibility accounting 11th accountancy |
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| 13. |
A company has the following balances on 1st January, 2014: Machinery Account: Rs. 250000Provision for Depreciation Account: Rs. 120000Depreciation was provided @ 20% p.a. on original cost and accounts were closed on 31st December each year. On 30th September, 2014, a part of machinery bought for Rs. 100000 on 1st July, 2011 was sold at a profit of 20% and new machinery was purchased for Rs. 200000 on the same date. Prepare machinery account and provision for depreciation account for the year 2014 |
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Answer» A company has the FOLLOWING balances on 1ST January, 2014: Machinery Account: Rs. 250000 Provision for Depreciation Account: Rs. 120000 Depreciation was provided @ 20% p.a. on original cost and ACCOUNTS were closed on 31ST December each year. On 30TH September, 2014, a part of machinery bought for Rs. 100000 on 1st July, 2011 was sold at a profit of 20% and new machinery was purchased for Rs. 200000 on the same date. Prepare machinery account and provision for depreciation account for the year 2014 |
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| 14. |
(b) Thabo opened a wholesale shoe business. He buys and sellson credit termsName the accounting principle which Thabo did not apply in eachof the folliwingThabo debited the wages account with $400 withdrawn fromthe bank for personal use. (1)(ii) Thabo revalued his premises by $20,000 when the premisesnext door were offered for sale for $20,000 more than Thabo paidfor his. (1)(iii) Thabo credited the sales account with $1000 after a customerpromised to purchase shoes,selling price $1000, next month. (1)(c) Ahmed is a sole trader who keeps full accounting records forall his purchades and sales on credit.Entries are posted monthlyfrom prime(original) entry books to ledger accounts.From the following information, make the entries required on 30April 2004 in the ledger accounts below. |
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| 15. |
Fraud under section 143(12) of Companies Act, 2013 & Rule 13 of CAAR, 2014involving amount of less than Rs 1 crore can be reported by Auditor toO (A) Central GovernmentO (B) State GovernmentO(C) Board/Audit CommitteeO (D) Supreme Court. |
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Answer» CENTRAL GOVERNMENT it will be I think PLZZ CHECK the answer |
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| 16. |
Just Do journal entries, Cash book not required |
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Answer» VOLUME of cylinder is 156 CM³ melted to form 3 cones with equal BASE and height volume of CONE isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone is Explanation: volume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone iisvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone isvolume of cylinder is 156 CM³ melted to form 3 cones with equal base and height volume of cone is |
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| 17. |
In Excess Capital Method the __________ is equal to the lowest unit capital |
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Answer» Answer: Excess Capital means, with respect to any PARTNER for any RELEVANT Quarter, the excess, if any, of (i) such Partner’s Excess Capital Contributions, over (ii) the aggregate AMOUNT of distributions MADE to such Partner pursuant to Section 6.2. |
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| 18. |
52. A, B and Care partners sharing profits and losses in the ratio of A 1/2, B 3/10, 1/5 after providinginterest @ 5% on their respective capitals, viz., A50,000; B30,000 and C* 20,000 and allowing BaCsalary of 5,000 each per annum. During the year ended 31st March, 2020, A has drawn 10,000Band C in addition to their salaries have drawn 2,500 and 1,000 respectively. Profit and Loss AccounPrepareof profits.for the year ended 31st March, 2020 showed net profit of < 45,000. On 1st April, 2019, the balances in sCurrent Accounts of the partners were A (Cr.) 34,500; B (Cr.) +1,500 and C (Cr.) +1,000. Interest is not chargeon Drawings and allowed on Current Account balances. Show Partners' Capital and Current Accounts a31st March, 2020 after division of profits in accordance with the partnership agreement. |
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Answer» Answer: The FIRST term is, 4a2 its coefficient is 4 . The middle term is, -13a its coefficient is -13 . The last term, "the constant", is +10 Step-1 : Multiply the coefficient of the first term by the constant 4 • 10 = 40 Step-2 : Find two factors of 40 WHOSE sum equals the coefficient of the middle term, which is -13 . -40 + -1 = -41 -20 + -2 = -22 -10 + -4 = -14 -8 + -5 = -13 That's it Step-3 : Rewrite the polynomial splitting the middle term using the two factors found in step 2 above, -8 and -5 4a2 - 8a - 5a - 10 Step-4 : ADD up the first 2 TERMS, PULLING out like factors : 4a • (a-2) Add up the last 2 terms, pulling out common factors : 5 • (a-2) Step-5 : Add up the four terms of step 4 : (4a-5) • (a-2) Which is the desired factorization |
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| 19. |
Discuss for question (a) and (b)- Define and identify the type of Income / Expenses- Treatment of the Income / Expenses in the Profit and Loss account, Impact of theIncome / Expenses in the Balance Sheeta. You purchased 10 shares of L& T Company last year. On 5th March 2019, the company has declared a dividend Rs 50 per share. The income is earned but not yet collected in your account during this financial year. (5 Marks)b. On 5th March 2019, Mehta Brothers received 100% advance for goods, to be supplied in the next month. The Cost of the goods was Rs50000. They usually sells the goods at10% mark up. |
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Answer» Answer: • Identification of Income: It is an Accrued Income. • Definition: Accrued income is a revenue that has been earned but has yet to be RECEIVED. Examples: Dividend declared by company but not received yet (Financial year), INTEREST earned by company but not received at the end of Financial year. • Treatment of accrued income: In profit & loss account it has been posted in credit side as an income ‘Dividend Income’ In BALANCE sheet it has been shown as an Assets (Current Asset) Shows it on the credit side of the Income Statement (profit & loss account) as it is an income for the current Accounting period (just not received yet). Shows it on the asset side of the Balance Sheet under the head “Current Assets”.
PARTICULAR Debit/Credit Impact Accrued Income A/C Debit Debit the increase in Asset To Income A/C Credit Credit the increase in income Journal ENTRY: Date Particular Dr/Cr Debit Credit 05TH March,2019 Dividend Receivable a/c Dr 500 To Dividend income a/c Cr 500 (Being dividend earned but not received yet) Explanation: may its help u |
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| 20. |
Pago NoŞahese achinary to cash 10,000goods from thons on creditRecene intereseRazid Silay, 73000500 |
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Answer» Answer:
MARK me as BRAINLIEST and follow me plss mate follow me... adarshdev64.........plss follow this one id ....request then i will give you answer KAR do brainliest answer
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| 21. |
When an account is said to have a zero balance |
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Answer» Answer: What is Zero-Balance ACCOUNT? A zero-balance account REFERS to a savings BANK account, which has a zero balance in it and YET not charged. |
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| 22. |
Ratio of 150000:100000:50000 |
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Answer» Explanation: bsbwjjwwvdbbwbanjajajjajajjajajajjjajajjajakwmwnw W w E e s e enehdjjwjwjwjakabnanamwkwmwmmwnnxnnznznznznsnnsns. s..ss d d e e e e e e d d d e d e e e e fg. g. h..h.h.h..y.r w q q g g g _ w s f g g f f f w w w w w w s s s e s e e se e f tr esnnslsnbene. w a w w y h akwiozm. NM , K . sannsanngsnjwhw msksnnsaa s d s s s d d d d d d d d dddd d d d d d d d d d d d d d d d d d d d dddgspsbsmmsmss s s s s |
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| 23. |
11th commerce question of subject account principal book of account |
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| 24. |
The option is at the money when…………A) Stock price is higher than the striking price B) striking price is higher than the stock price C)Stock price is equal to striking price D) there is low premium |
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Answer» I think OPTIONS (C) stock price is equal to STRIKING price Hope you like this answer |
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| 25. |
Minor trends last for……A) For week B) For month C) For year D) Two year |
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Answer» zltisydholyishfhkzkzgj |
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| 26. |
Cal calculate the amount of subscription credit to the income and expenditure account1. amount received during the year 780000 2018 19 20000 2020 21 100002021 20 100002. Subscription received in advance 35000 as on 1st April 2019 including 15,000 for 2020 213. Subscription in errors as on 31st March 2020 50000 out of out of subscription in error on 1st April 2019 are not longer recoverable4. Subscription in error as on 1st April 2019 40000 |
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Answer» On 1.1.20 X Ltd. purchased fixed assets WORTH 2,50,000 for a consideration of * 2,30,000 payable by the issue of 20,000 fully paid equity shares of 10 each at a premium of 15%. After 6 MONTHS X Ltd. sold the above fixed assets for * 3,20,000. |
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| 27. |
Stock exchangeA) helps in the fixation of stock price B)ensures safe and fair dealing C)Induces good performance of the company D) performs all the above functions |
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| 28. |
1. Which one of the following is a contingent investment?A) Recurring deposit B) Bonds C) Equity shares D) Life insurance policy |
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Answer» Explanation: hope this will HELP uhh follow me guys |
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| 29. |
In which type of business less capital is an important characteristicA. CompanyB. Sole-proprietorshipC. Co-operative societyD. Partnership firm |
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| 30. |
What are the causes of change in formation of commerce ? |
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Answer» Just as FLUCTUATIONS in demand, fluctuations in investment is one of the MAIN causes of BUSINESS cycles. The investments will FLUCTUATE on the basis of a LOT of factors such as the rate of interest in the economy, entrepreneurial interest, profit expectation, etc |
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| 31. |
Amount paid for sports material during the year Rs 20,000,Stock of sports materials at the beginning and end of the year Rs 3,300 and Rs 2,900 respectively, creditors for sports materials at the beginning and end of the year Rs 5,000 and Rs 4,000 respectively.What amount will be recorded in income & Expenditure Account? |
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| 32. |
Goods returned to Teja &co rs 200 journal entrie |
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Answer» Answer: vgiwhheh urbrvh iik will soon still come at do so you u SANDY SURAKSHA details EURO du teri SU so do to go HI to to do ch ho du to Explanation: Please mark me brienliest |
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| 33. |
Purchased goods from Teja&co for rs 10000 and paid cash 5000 |
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Answer» Answer: hi GIRL you are LOOKING AWESOME and Explanation: pretty |
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| 34. |
Started business with cash rs 40000 machinery rs5000 and goods rs 20000 |
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Answer» machinery a/c dr 5000 purchase a/c dr 20000 To CAPITAL. 425000 |
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| 35. |
Rectify the following errors1) Credit Sales to arun Rs7,000 were recordedas Rs7002) Credit Purchases from Brij Rs9,000 were recorded as Rs9003) Goods returned to charu Rs 4000 wererecorded as Rs4004) Goods returned from Deepika Rs1,000 wererecorded as Rs 100 |
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Answer» brooooooo i don't KNOW because i have FEVER MARK me as BRAINLIEST |
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| 36. |
06Q 23 From the following information, calculate Debt to Equity Ratio, Proprietary RatioEquity Share Capita104 Preference Share CapitalReserve and SurplusCenwal ReserveSurpluu te Balance in Statement of Profit and Loss200.000 125. DebenturDebentures3,00.000 Current LiabilitiesFored Assets (Tangible2,50,000 Long-term Trade Investments1,50,000 Current Assets16,00.0006,80.00021,00.000200.0008,80.000 |
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Answer» Given :- 75% of total 1500 are boys. ⅓ are boys And No. of girls = 40% To find :- Total students Solution :- No. of boys :- 75% of 1500 75/100 × 1500 75 × 15 1125 boys Now, NUMBERS of girls = 1500 - 1125 => 375 Total spectacles => ⅓ × 1125 375 In girls 40/100 × 375 4/10 × 375 150 Total students that wear spectacles = 150 + 375 = 525 \begin{GATHERED} \\ \end{gathered}
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| 37. |
Answer this question Please urgent need |
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Answer» PLEASE MARK me BRAINLIEST |
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| 38. |
Issued cheque of 39000 to param a creditor in settlement of his account of 40000 |
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Answer» Yes Explanation: you are DEFINITELY CORRECT!!! |
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| 39. |
सैलरीज ड्यू टू क्रैकर्स रूपीस फिफ्टी टू मेक इन फास्ट एंड टायर्स |
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| 40. |
Total of purchases book rs 16000 was wrongly carried in sales book rs 11000 (rectify) |
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Answer» Explanation: 6g6g6gygygyh7hhu8bytvgy788j |
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| 41. |
5. Use accounting equation to show effect of the following transactionson assets, liabilities and capital :(a) Started business with cash 30,000 goods 40,000 and furniture20,000.(b) Bought goods from Raman 20,000(c) Sold goods bought from Raman to Sohan for * 25,000(d) Paid rent 4,000 and rent still outstanding * 1,000(e) Sohan settled his account at a discount of 500.Received commission 5,000 including 1,000 as advance.[Ans. Cash 55,500 + Stock * 40,000 + Furniture 20,000 = Creditors20,000 + Rent Outstanding 1,000 + Advance Commission 1,000+ Capital 93,500][Hint. Trans. (f) Com. 4,000 is income and 1,000 advance receivedis liability] |
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Answer» I can't UNDERSTAND your QUESTION please make me as brainlist |
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| 43. |
Internal reports includea) annual report b. Trade journal c. web sites d. publication of professional bodies |
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| 44. |
344.Show the accounting equation on the basis of the following transactions1. Mohan commenced business with cash Rs.70000.2. Purchased goods on credit Rs.14000.3. Withdrew cash for private use Rs. 1700.4. Goods purchased for cash Rs.10000.5. Paid wages Rs.300.6. Cash paid to creditors Rs.10000.7. Sold goods (cost Rs.12000) on credit Rs.15000.8. Sold goods (cost Rs.3000) for cash Rs.4500.9. Purchased Furniture Rs.500 |
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Answer» Answer: i don't know I am really SORRY my friend but I am not sure in this answer but I will try my BEST and SAY you the answer but TILL that time you ALSO try it you will get it to the point okay |
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| 45. |
during the financial year 2019- 20 Shyam earned a total revenue of 47000 by selling the goods out of the total sale there were credit sales of rupees 130000 the total expenses for the year in Rupees 250000 out of the which rupees 30000 are still outstanding find out Shyam's income for 2019-20 as per cash basis of accounting |
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Answer» On 1.1.20 X LTD. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by the On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by THEISSUE of 20,000 fully paid equity SHARES of 10 each at a premium of 15%. After 6 months X Ltd. sold the On 1.1.20 X Ltd. purchased fixed assets worth 2,50,000 for a consideration of * 2,30,000 payable by theissue of 20,000 fully paid equity shares of 10 each at a premium of 15%. After 6 months X Ltd. sold theabove fixed assets for * 3,20,000. |
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| 46. |
Question 1. Jaya is asked to collect data for size of shoes in her class. Prepare frequency distribution table using tally mark.Shoe size : 5 ,4,7,5,6,7,6,5,6,6,5,4,5,6,8,7,4,6,5,64,6,5,7,6,7,5,7,6,4,8,7 |
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| 47. |
Explain admission of partner in partnership?? |
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Answer» Explanation:- A business firm seeks new partners with business expansion being one of the driving motives. As per the Partnership Act, 1932, a new partner can be admitted into the firm with the consent of all the EXISTING partners, unless otherwise agreed upon. With the admission of a new partner, there is a reconstitution of the partnership firm and all the partners get into a new agreement for carrying out the business of the firm. The following conditions LED to the addition of a new partner: When the firm is in an expansion mode and requires fresh capital. When the new partners possesses expertise which can be beneficial for the business expansion of the firm. When the partner in question is a person of reputation and adds goodwill to the firm. ALSO Read: Basic Concepts of Accounting for Partnership The following adjustments need to be made at the time of admission of a new partner Calculating the new profit sharing ratio along with the sacrificing ratio. Accounting for goodwill. Revaluation of assets and liabilities. Adjustment of capital as per new profit sharing ratio. With the admission of a new associate, the partnership enterprise is restructured and a new agreement is entered into; to carry on the trading CONCERN of the enterprise. A newly added partner obtains 2 primary rights in the enterprise : Right to share the assets of the partnership firm Right to share the profits of the partnership firm Must Read: What is Goodwill? Treatment of Goodwill in the Admission of a Partner A new partner is entitled to be a part of the future profits of the firm upon being added to the firm. The act of admitting new partner also leads to the reduction in the future profit sharing ratio of the existing partners. For this reason a new partner has to BRING extra value apart from capital, this is known as Premium for Goodwill. Treatment of goodwill on admission of a new partner will be based on the following conditions: When the amount for goodwill is paid privately When the amount necessary for paying the share of goodwill is brought as cash. When share of goodwill is not brought as cash. Adjustment of Capital and Change in Profit Sharing Ratio Among Existing Partners Few significant points which require observation during the admission of a new partner are mentioned below : Sacrificing ratio New profit sharing ratio Revaluation of assets and Reassessment of liabilities Valuation and adjustment of goodwill Adjustment of partners’ capitals Distribution of accumulated profits (reserves) The above mentioned is the concept that is explained in detail about the Admission of a New Partner for the Class 12 students. hope you found my answer helpful, pls mark as the brainliest. thank you |
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| 48. |
Capital employed by a patnership firm is 500000 . its average profit is 60000. the normal rate of return is 10%. what is the amount of super profit |
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Answer» Answer: 10 THOUSANDS Explanation: Normal PROFIT=500000×10÷100=50000 Super profit =ACTUAL profit-normal profit =60000-50000 Answer =10000Hope its help :))) |
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| 49. |
Audit of small business is generally _____ a) voluntary b) statutory c) regular d) irregular |
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