Explore topic-wise InterviewSolutions in Current Affairs.

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.

1. The profit and loss on revaluation is distributed at the time of retirement of partner: (a) All Partner (b) Retiring Partner (c) Remaining Partner (d) None of these.2. Goodwill shown in books before retirement is distributed among.(a) Old partners (b) Retiring partner (c) New and old partners (d) None of these3. The interest payable to the deceased partner on his due amount will be:(a) 10% (b) 5% (c)_6% • (d) 7%4. In which ratio goodwill is distributed on retirement of a partner.(a) Old profit-sharing ratio' (b) Sacrificing ratio (sh Gaining ratio (d) None of these.5. Premium for policy treated as business expenses is shown in.(a) Profit and Loss A/c (b) Balance sheet (c) Both (d) None of these.​

Answer» HEY mates here is your ANSWER:---------1 :-- (a) 2:-- (c)3:-- (6%)for this I'm not sure 4:-- (a)5:-- (a) thank you ♥️♥️♥️♥️♥️
2.

Mr. Rakesh started business with cash as 1 April 2019 with 1000000 cash 1000000 goods

Answer» HEY mates is your ANSWER :------cash a/c dr. 10,00,000goods a/c dr. 10,00,000to capital a/c 20,00,000(for MR. Rakesh STARTED business with cash and goods)thank you ♥️♥️♥️
3.

Withdrew 150 from the bank for business use,is it credited or debited?

Answer» DRAWING ALC is DEBITED
4.

journal entry for cash in hand rupees 1200; cash at Bank rupees 28000 ; Ashok debit rupees 3200 ; stock rupees 16000 ; Shyam credit rupees 12000 ; Jagdish debit Rupees 6000 ; bills payable rupees 3600 ; capital 38800​

Answer»

cash in hand A/C 1200 debitcash at BANK A/C 28000 debit stock A/C 16000 debitjagdish A/C 6000 debitAshok A/C 3200 debit To shyam A/C 12000 To bills payable A/C 3600 To CAPITAL A/C 38800

5.

Define accounts................​

Answer» ACCOUNTS :SOMEBODY or DESCRIPTION of SOMETHING that happens
6.

Sold old furniture worth rs 100 for rs 90

Answer»

then we SOLD at a GAIN of 10 PERCENT

7.

Took 200 out of the cash till and paid it into the bank,should we credit or debit this transaction?

Answer»

we PAID 200 into BANK so it is DEBITED

8.

Accountancy question examples of wasting assets

Answer» CONTRACTS, coal MINE, an OIL mine are some examples of WASTING assets.thank you
9.

Illustration of trial balance journal and ledger​

Answer»

tion:KEY Differences Between Journal and LedgerThe Journal is a book where all the FINANCIAL TRANSACTIONS are recorded for the first time. When the transactions are entered in thejournal, then they are posted into individual ACCOUNTS known asLedger. The Journal is a SUBSIDIARY book, whereas Ledger is a principal book.

10.

What is a account in easy way​

Answer»

Basic = Account is a description of event or experience.Under bank language =)Record or STATEMENT of financial expenditure receipts RELATING to particular period or PURPOSE.

11.

Calulate owner's equity (i) owner's equity in the beginning ₹200000

Answer» LISTEN to SONGS of CRAZY In LOVE at HTTPS://wynk.in/u/AuLtOWwqh on Wynk MusicExplanation:
12.

Postage is a credit or debit

Answer»

is a CREDIT not a DEBIT. ( I THINK)

13.

Purchased goods for cash Rs 2000and by chequeRs3000.

Answer» PURCHASE a/c dr. 5,000to cash a/c 2,000to bank a/c 3,000(for purchased GOOD and PAID by cash and by cheque )THANK you
14.

Ratiram cheque was dishonoured

Answer» AC DR BANK dr to CASH CR
15.

Journal entry commenced business with cash investment of 150000​

Answer» CASH AC DR to CAPITAL ac
16.

journal entry appointed Mr RK Mehta as an accountant for a monthly salary of rupees 18000 and paid rupees 1000 as an advance against his salary​

Answer»

I don't KNOW I am SORRY sorry sorry sorry sorry sorry sorry sorry sorry sorry

17.

What is expense in easy way​

Answer» ULD pay and PURCHASE any thing is known as expense EXAMPLE ELECTRICITY bill and purchased a pen
18.

What is expense in accounts​

Answer»

The COST incurred for SELLING and PRODUCING if goods and servicesThanks ❤✨✨Eid MUBARAK ✨✨_____/\____#kanika...

19.

Balance brought forward from last month,cash 295,bank 4240,should i debit or credit this transaction?

Answer»

the transaction should be debited , DUE to the rule STATING DEBIT what comes in.

20.

Trial balNce with example​

Answer» TION:I HOPE this ANSWER is HELPFUL for you
21.

What is MEASURING UNIT ASSUMPTION?​

Answer» SURING UNIT ASSUMPTION IS ALSO Known as (Monetary Unit ASSUMPTIONS) states that only those EVENTS and Transactions are Recorded in the books of ACCOUNTS of the business which Can be Measured and Expresed in monetary TERMS
22.

What is expenditure​

Answer»

Hello❤The ACTION of SPENDING FUNDS.

23.

What is rebate in accounts​

Answer»

Return of a portion of a purchase price by a seller to a buyer, usually on purchase of a specified QUANTITY, or value, of goods WITHIN a specified PERIOD. Unlike DISCOUNT (which is deducted in advance of payment), rebate is GIVEN after the payment of full invoice amount. See also refund.

24.

What we do with10% The transaction is rejected and returnef10% of goods supplied by mohan

Answer»

eturn 10% of MOHAN To Mohan

25.

How to solve this ques?​

Answer» GOOGLE will GIVE U RIGHT ANSWER.
26.

Plz answer ....do it in a note book and send pic ...​

Answer»

feeling ke sath sochna Mai Tumhare Liye unknown hai Is Duniya Mein Koi Kisi ke saath Nahi Jata Nahin Kisi ke saath Aata Hai Pyar Se Hi Duniya Chalti Hai Aur PYAAR Mein Hi SAB Kuch Hai Meri Baaton Se Tum sahmat Ho Tu Ek baar call kar lo number meri profile par hai BAS Tumhare Liye Diye Gaye hai ACHHA nahi lagega toh block kar dena PROMISE as a friend

27.

What is the what is the entry for cash sales

Answer» C DR ____To SALES a/c(being CASH sales)hope it helps..
28.

Journal entry bought goods of rafique rupees 410​

Answer»

so what to do in ITPLEASE MARK me as BRAINLIEST

29.

Shri Kamal Kishore of Amritsar started business on April 1st 2015 with cash rupees 8000 stock rupees 12000 furniture rupees 15000 and building worth rupees 100000​

Answer»

15000+8000+100000=123000

30.

Bought goods of rafique rupees 410 and paid rafique in full settlement rupees 400​

Answer» RAFIQUE ACCOUNT. Dr. 410 to CASH account. 400 to discount received. 10
31.

Anil and Sunil are partner sharing profit in the ratio of 4:1 .they admilt Vijay into partnership with 1/3 share in profit which he accuired wholly from anil.find out new profit sharing ratio

Answer» NEW PROFIT SHARING is 8:2:5
32.

Business start with 120000

Answer» CASH a/c DR to CAPITAL a/c(being BUSINESS STARTED with cash)
33.

Journal entry of tarun paid in full settlement

Answer» TION:TARUN a/c DR...to CASH a/cthanks.
34.

Good afternoon what is princely patronage​

Answer»

Good Afternoon My DEAR Princely PATRONAGE refers to support or encouragement by princes and royalty. The support was extended in the form of GRANTS of revenue village, land,high position and pensions.Nobles artists and MUSICIANS from this patronage I HOPE it will help u dear

35.

If tally is not purchased one and tally is used in educational mode can we change its date??????????

Answer»

cant CHANGE the date in EDUCATIONAL mode Explanation:if you don't have an purchase tally and used educational mode you cant change date you have to must purchase LICENCE to OPERATE a tally                 i hope its HELP you

36.

What is journal ? and its entry​

Answer»

your answer... ☺️☺️☺️➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡General journal is a daybook or journal which is USED to record transactions relating to adjustment entries, opening stock, accounting errors etc. The source documents of this prime entry book are journal voucher, copy of management reports and invoices.It is where double entry bookkeeping entries are recorded by debiting one or more accounts and crediting another one or more accounts with the same total amount. The total amount debited and the total amount CREDITED should always be equal, thereby ensuring the accounting equation is maintained.[1] In accounting and bookkeeping, a journal is a record of financial transactions in order by date.A journal is also named the book of original entry, from when transactions were written in a journal prior to manually posting them to the accounts in the general ledger or subsidiary ledger. Manual systems usually had a variety of journals such as a sales journal, purchases journal, cash receipts journal, cash disbursements journal, and a general journal. Depending on the business's accounting information system, specialized journals may be used in conjunction with the general journal for record-keeping. In such case, use of the general journal may be limited to non-routine and adjusting entries.A general journal entry INCLUDES the date of the transaction, the titles of the accounts debited and credited, the amount of each debit and credit, and an explanation of the transaction also known as a Narration.✔✔✔✔✔✔✔✔✔✔✔✔✔✔✔✔✔✔✔I HOPE this answer is helpful to u...❤❤❤Keep Asking... ✌️✌️✌️✨✨✨If help u. Mark my answer as brainliest✨✨✨#N. H. Khan

37.

Goods sold to shrestha on cash 1000......journal entries

Answer» CASH A/c DR. 1000 To SALES A/c 1000Explanation:
38.

Journal entry for The horse of 5600 died and its dead body fetched 600

Answer»

I don't KNOW your ANSWERS

39.

State any four features of business​

Answer»

omic activity: Business is an economic activity of production and distribution of goods and services. It provides employment OPPORTUNITIES in different sectors like banking, insurance, transport, industries, trade etc. it is an economic activity corned with creation of utilities for the satisfaction of human wants.2. Buying and Selling: The basic activity of any business is trading. The business involves buying of raw material, plants and machinery, stationary, property etc. On the other hand, it sells the finished products to the consumers, wholesaler, retailer etc. Business makes available various goods and services to the different sections of the society.3. Continuous process: Business is not a SINGLE time activity. It is a continuous process of production and distribution of goods and services. A single transaction of trade cannot be TERMED as a business. A business should be conducted regularly in order to grow and gain regular returns.4. Profit Motive: Profit is an indicator of success and failure of business. It is the difference between income and expenses of the business. The primary goal of a business is usually to obtain the highest possible level of profit through the production and SALE of goods and services. It is a return on investment. Profit ACTS as a driving force behind all business activities.

40.

Write any 4 types of business​

Answer»

the FOUR TYPES of business are the business of rice and GRAINS the business of CLOTH the business of sweet the business of the the study

41.

Journal account paid rent and salaries due by cheque​

Answer»

jan.1. RENT a/c. DR. SALARIES a/c dr. to BANK a/c

42.

journal entry received cheque on account of sale rupees 60000 and dividend rupees 5000 and commission rupees 3000​

Answer»

Bank a/c. Dr. 68000 To sales a/c. 60,000 To DIVIDEND recieved a/c. 5000 To COMMISSION recieved a/c 3000

43.

Journal entry bought machinery from Mr Raj foundry Works By issuing cheque of 80000​

Answer» MACHINERY a/c DR. 80,000 To BANK a/c 80,000
44.

What do you mean by account​

Answer» TION: somebody's REPORTS or DESCRIPTION of something that has happened is know as account.
45.

Guru paid by Cheque​

Answer» HAT can i do DEAR??
46.

What are the factors to be consolidated before finalizing the journal entry of a transaction?​

Answer»

nancial reporting developments publication is PRIMARILY designed to help you understand financial reporting issues related to the accounting for noncontrolling interests. This publication also includes guidance on CONSOLIDATION procedure and the presentation of combined, parent-only, and consolidating financial statements. The publication reflects our current understanding of the relevant guidance in these areas based on our experience with financial statement preparers and related discussions with the FASB and SEC staffs. The accounting for noncontrolling interests is based on the single economic ENTITY concept of consolidated financial statements. Under the single economic entity concept, all residual economic interest holders in an entity have an equity interest in the consolidated entity. Therefore, a noncontrolling interest is required to be displayed in the consolidated statement of financial position as a separate component of equity. Likewise, the consolidated net income or loss and comprehensive income or loss attributable to both controlling and noncontrolling interests is separately presented on the consolidated statement of comprehensive income. Consistent with the single economic entity concept, after control is OBTAINED, increases or decreases in ownership interests that do not result in a loss of control should be accounted for as equity transactions. However, changes in ownership interests that result in a loss of control of a subsidiary or group of assets generally result in the recognition of a gain or loss recognition upon deconsolidation. The decrease in ownership guidance generally does not APPLY to transactions involving non-businesses, in-substance real estate or oil and gas mineral rights conveyances.

47.

Accounting records transactions and events that can be measured in money terms. Is this , in your opinion , a limitation of accounting or an advantage? Give reason.​

Answer» ING have ONE LIMITATION that skills and honesty of human BEINGS are not CONSIDERED .because these things are can't calculate in terms of money.
48.

In ideal gas equation PV=nRT what is the value of R=?​

Answer»

The VALUE of R is 8.314 J/K/Mol

49.

What do you mean. by dam​

Answer»

dam has a MEANING in Hindi which is बांधthis will MAKE U to UNDERSTAND properly

50.

What do you mean by water harvesting​

Answer» TE Good morning Here is ur answer Water harvesting means storing of water for hazardous times. It is HELPFUL in drought control. Hope it helps UH Thnq Keep ASKING