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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. |
What is journal entry for received from Gopal as a advance for consignment goods |
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Answer» To ADVANCE a/c |
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| 2. |
Repair and renewals kon sa expense hai |
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Answer» OPERATING expenses Explanation: |
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| 3. |
WhereisExchange profit income tax refund shown in trial balance |
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Answer» Answer: As PER the Income Tax Act, a person is required to file his/her return in the relevant assessment year by July 31 (unless deadline EXTENDED) to claim the REFUND |
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| 4. |
An increase in income, holding prices constant, can be represented as |
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Answer» profiits of our BUSINESS |
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| 5. |
An efficient portfolio is a combination of assets which |
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Answer» A COMBINATION of ASSETS, i.e. a portfolio, is referred to as "efficient. Mark as BRAINLIEST |
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| 6. |
An australian firm purchases a patent for usd20,000 and machinery for usd21,500 from a us firm when the exchange rates are as follows: exchange rate usd/eur 1.29 aud/eur 1.24 |
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Answer» Answer: Here is your answer Explanation: Fertilization characteristic of SEED plants in which one sperm nucleus FUSES with the egg nucleus to FORM an embryo and another fuses with polar nuclei to form ENDOSPERM. |
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| 7. |
An analyst observes that the historic geometric nominal return for equities is 9%. Given a real return of 1% for riskless treasury bills and annual inflation of 2%, the real rate of return and risk premium for equities are closest to: |
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Answer» LET THE THE PRINCIPLE BE 40,000 41/40=X/40,000 40,000*41/40 1,000 * 41 SO THE AMOUNT WILL BE 41,000 |
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| 8. |
After selling a watch, shyam found that he had made a loss of 10%. He also found that had he sold it for ` 27 more, he would have made a profit of 5%. The actual initial loss was what percentage of the profit earned, had he sold the watch for a 5% profit? |
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Answer» Answer: 200% Explanation: Loss when the watch is SOLD = 10% (Given) Profit when the watch is sold = 5% ( if sold for Rs 27 more) 5% of CP = Rs. 27 So, CP = 540 Since loss% = 10 and CP = 540 Thus the loss will be = Rs. 54 Required percentage - = 54 × 100/27 = 200 Therefore, the percentage of the profit earned is 200% |
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| 9. |
A credit balance always signifies a balance in the liability accounts. Is it correct? |
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Answer» No, because capital a/c and INCOME a/c ALSO a CREDIT balance |
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| 10. |
Deposits into bank Rs 8000 |
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Answer» Answer: where is the questionExplanation: are you mad SENDING foolish QUESTIONS |
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| 11. |
A cash book with cash bank and discount column is commonly referred as |
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| 12. |
A, b and c form a company. A invests half of c expecting a return of 10%. B invests three-fourths of c, expecting a return of 15% on it. C invests ` 3000 and the profit of the firm is 25%. How much would bs share of profit be more than that of as share if b gets an additional 8% for managing the business? (assume that their expectations with respect to returns on capital invested are met before profit is divided in the ratio of capitals invested). |
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Answer» A, b and c form a company. A invests half of c expecting a return of 10%. B invests three-fourths of c, expecting a return of 15% on it. C invests ` 3000 and the profit of the firm is 25%. How much would bs share of profit be more than that of as share if b gets an additional 8% for managing the business? (assume that their EXPECTATIONS with respect to returns on CAPITAL invested are met before profit is divided in the ratio of capitals invested). Explanation: C Invests = 3000 A Invests= 1500 ( Half of C's INVESTMENT) B Invests = 2250 ( Three fourth of C's investment) Return on Investment A R.O.I = Investment + 10% = 1500 + 150 = 1650 B R.O.I = Investment + 15 % + 8% = 2250 + 337.5 + 180 = 2767.5 The Total Investment = 6750 Profit =25 % = 1687.5 B's Share of Profit = 517.5 A's Share of Profit = 150 The Difference = 367.5 |
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| 13. |
A and b are partners sharing profits equally they admit c into partnership who brings 20000 as goodwill for 1/5th share of profits what shall be journal enteries if no goodwill exists in the books of the firm |
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Answer» Answer: Old ratio =1:1 c share= 1/5 let =1 remained=1-1/5=5-1/5 =4/5 a NEW ratio =1/2*4/5 =4/10 bnew ratio= 1/2*4/5 =4/10 4/10 :4/10:4/5 = 4:4:8/10 = 1:1:2 cshare of goodwill = 20000*1/5= 4000 a capital a/c DR. 2000B capital a/c dr.2000 To c capital a/c 4000 |
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| 14. |
What is undervaluation of assets |
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Answer» ✿★Undervaluation IMPLIES that an assetor a liability is shown at a lower value in the books than its ACTUAL value. ✿★On the other hand, OVERVALUATION means that an ASSET or a liability is shown at a higher value than its actual value. |
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| 16. |
Goods used for household purpose |
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Answer» CONSUMER Electronics, Appliances, Tools & Housewares, and. Home FURNISHINGS (such as furniture) |
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| 17. |
A bad debt of ₹1560 had not been written off and provision for doubtful debts should have been maintained at 10% of trade receivables which arr shown in the trial balance at ₹23120 with a credit provision for bad debts at ₹2320... rectify the error |
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Answer» Answer: 1992 Explanation: AMOUNT of BAD debt = Rs 1560 (Given) Trade receivables = 10% (Given) Trial balance = Rs 23120 (Given) PROVISION for bad debts = Rs 2320 (Given) Journal entry - Provision for bad debts Dr. To Bad debts Cr. Provision for bad debts - 23120-1560 = 21560 Amount of debtors provision = 10% of 21560 = 2156 Balance in the provision account after writing off = 2320- 2156 = 164 The provision amount will be - = 2156 - 164 = 1992 |
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| 18. |
What is the double entry for closing stocks? |
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Answer» They CARRY a debit BALANCE. By recording the journal entry for bringing the value of closing stock into books, we create the ASSET by NAME Closing Stock .Hope this would be helpful to. |
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| 19. |
2. Which number when added to 5/4 gives the same result as when it ismultiplied with 5/4? |
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Answer» Answer: the answer will be 5 |
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| 20. |
What is journal entry for purchased a cycle for the personal use of proprietor and paid by cheque |
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Answer» PURCHASE a/C dr to BANK A/C MAY be not confirmed✅ |
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| 21. |
Purchased cycle for the personal use of proprietor and paid by cheque 2,000 |
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Answer» zbbzbzbzxjjxbxbxbxbbxjxjz hzbbzvs vsvdbsuz |
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| 22. |
What is journal entry for received rent from subtend rupees hundred |
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| 23. |
What is management accountings |
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Answer» It FOCUSES on GENERATING accounting information relating to cost, profit, etc. which helps in decision making by the MANAGEMENT. it is a very NEW concept emerged few years ago. |
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| 24. |
What is journal entry for purchase a motorcycle for his son rupees 80000 |
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Answer» Answer: .. Rs. . Rs By Purchase. 8oooo To CASH. 8oooo (cash Purchase of m .cycle) |
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| 26. |
journal entry for Kartikwho owed 2700 become insolvent received from the official receiver as settlement of 75 paise in the Rupee |
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Answer» CASH A/c - - - - - Dr. 2025 Bad debts A/c. - - - - - Dr. 675 To Kartik's A/c 2700 ( Being 75% RECEIVED from Kartik and the BALANCE treated as bad debts) |
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| 27. |
Enter the following transactions in a cash book with cash, bank and discount columns and bring downthe balances at the end of the month :2016Feb. 1 Cash in hand 1,680. Balance at bank 8,400.2 Paid salaries for January 1,200 in cash. Cash sales 840.5 Paid P. Nandi by cheque 1,300, discount received 50. Cash purchases * 800.7 Received from T. Sinha * 620, allowed him discount * 20.10 Withdrawn from bank for office use 3 500. Paid rent in cash 150.15 Cash sales 2,240. Paid cartage and coolie 15.17 Paid R. Ahmed by cheque * 940 for goods purchased in the last month, discount allowed byhim 30.19 Deposited into bank * 2,000. Purchased a type-writer for office use for 2,800 and drew acheque for the amount.22 Cash sales 580. Received from P. Dutta 320 by cheque,allowed him discount * 30. Deposited the same cheque into bank.23 Deposited into bank 500.25 Received a cheque from N. Munsi for* 340, allowed him discount 20. Deposited the samecheque into bank.26 Cash sales 950.28 Paid wages * 250. |
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| 28. |
प्रापय बिल जनरल तथा देय बिल जरनल में लिखे जाने वाले लेनदेनों का वर्णन कीजिए |
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Answer» प्राप्य और देय बिल एक दूसरे के बिल्कुल विपरीत हैं। पूर्व कंपनी की संपत्ति है। बी / पी की तरह, यह भी ऋण के साक्ष्य के साथ एक परक्राम्य साधन है जो धारक को देय है। यदि किसी कंपनी ने किसी को क्रेडिट बिक्री या सेवाएं प्रदान की हैं, तो वह भविष्य में देय राशि के ऋणी पर एक बिल लिखेगा। ऐसे बिल को प्राप्य बिल कहा जाता है। ये बिल बैलेंस शीट के एसेट पक्ष पर दिखाई देते हैं। दूसरी ओर, बिल की प्राप्ति तब होती है जब विक्रेता या विक्रेता व्यवसाय को कोई क्रेडिट बिक्री करते हैं। बिल में उल्लिखित राशि का भुगतान भविष्य की तारीख में किया जाता है और ऐसे बिल को देय बिल कहा जाता है। |
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| 32. |
Journal entries2018Jan.10 Sold goods to Hari on credit - Rs.10,000Jan.25 Received from Hari - Rs.8,000 |
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Answer» SALES a/c Dr 10,000 To Hari a/c 10,000 (being credit sales MADE)
CASH a/c Dr 8,000 To hari a/c 8,000 (being cash receivable) |
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| 33. |
Paid for Sandry expenses |
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Answer» what is your QUESTIONS. ..not UNDERSTAND |
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| 35. |
Sushil and co. started busniess with cash journal entry |
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Answer» To CAPITAL A/c |
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| 36. |
Please journalise "bought stationary for cash", "bought postage stamps" and "capital paid into bank". |
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Answer» Answer: Stationary account DR. To cash account (Purchase stationary and postage for cash ) Bank account Dr. To CAPITAL account (Paid capital into bank ) Explanation: |
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| 37. |
Enter the following transactions in the Journal :2000March 1 Deposited in bank for opening current account5 Purchased goods and paid by cheque8 Cash sales Rs. 40,000 out of which deposited in bank10 Withdrew from bank for personal use... 12 Withdrew for personal use15 Withdrew from Bank......... 20 Transferred from current account to Fixed Deposit account2,50,00010,00030,0005,0004,0002.00020.000 |
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Answer» answer is the 250000 |
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| 38. |
xyz limited has been registered with an authorised capital of 200000 divided into 2000 share of 100 each of which 1000 share were offered for public subscription at a premium 5 per share payable as under and application 10 on allotment 25 including a premium on first call 40 and final call 30 application received the for 1800 share of which application for 300 share were rejected outright the rest of application were allotted 1000 share on Pro Rata basis access application money was transferred to allotment all the monies were duly received except from mohan holder of 100 share who failed to pay the allotment and first call money his share were forfeited, and re issued to sahil at 60 per share 70 paid up final call has not been made pass necessary cash book and journal entry in the book of k limited |
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| 39. |
What is the entry for opening current account from savings account 1000 in double column cash book |
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Answer» Answer: Bank A/c. Dr 1000 To Cash A/c. 1000 Explanation: This will be a contra entry so on DEBIT SIDE of cash BOOK it will be by bank account and AMOUNT to be PUT in cash and on. credit side to cash account and amount in bank column |
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| 40. |
What is the entry for interest due on bank overdraft 2,000 in double column cash book |
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Answer» Answer: To cash A/c. 2000 Explanation: Since interest is due to bank by us so we have to pay it and it takes the form of NOMINAL ACCOUNT which says "All expense debit and all incomes credit" so here interest is an expense and cash is going out so it will be credited Do let me KNOW if any query @ACR |
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| 41. |
You are saving money for a down payment on a house. Suppose you want to have total savings of $20,000 in 10 years time and you have currently $5,000. What annual interest rate do you need to earn on your initial investment, assuming you contribute no additional savings? |
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Answer» ANS is 1500 Explanation: 20000-5000 |
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| 42. |
Collection of data of partnership firm |
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Answer» For registering a Partnership Firm you have to either visit the REGISTRAR of firm Office of The state where your Partnership Firm Is LOCATED and Fill an Application for Partnership Registration along with the Required Set Of Documents and Partnership Deed or Have to make an ONLINE application on the government website ... |
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| 43. |
20a - a= 110000 then a equal to? |
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Answer» Answer: 20a-a=110000 19a=110000 a=110000/19 a=5789.473684 |
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| 44. |
Good costing 1800 sold to pappu after adding 10%profint on sale |
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Answer» Answer: 1980 Answer Explanation: 1800+180=1980. |
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| 45. |
What do u mean by first call arrear |
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Answer» Explanation: an unpaid amount of shares it has issued and an investor fails to pay the amount FULLY or PARTIALLY, then it is known as call in arrears. In simple WORDS, it REFERS to the amount of DIFFERENCE between called up capital and paid up capital. Call in arrears = Called up capital – paid up capital. |
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| 48. |
What is the best MS-Access object an invoice you will mail to customer?(1) A report(2) A form(3) A table(4) All of these(5) None of these |
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Answer» What is the best MS-Access object an INVOICE you will MAIL to customer? |
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| 49. |
A commodity in which a trader deals is known as |
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Answer» A COMMODITY trader is an individual or business that focuses on investing in physical substances LIKE oil, gold, or agricultural products. The day-to-day buying and SELLING are often driven by EXPECTED economic trends or arbitrage opportunities in the COMMODITIES markets. |
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