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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.
| 2. |
Any 212nd1.10.19On l.f. 20ИOn 1.4.18 Purchase first machine 200000.1000003rd machine 50000-calculate Dep. @ 10%. Pay 2018-19,2019-20,2020-21 |
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Answer» ong>Answer: you should ask QUESTIONS on this WEBSITE instead of ADVERTISEMENTS |
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| 3. |
Journalist the following transactions and prepare necessary ledger accounts JAN 2019: 1.started business with cash Rs.100000 |
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Answer» er: Explanation: To capital a/c. 100000 Hope it HELPS you. |
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| 4. |
I want All ratios which are find from this sum |
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Answer» n't know the answer PLEASE don't FEEL bad thanks for FREE points sorry bro. |
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| 5. |
Different froms of ratio |
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Answer» ong>Explanation: Ratio analysis consists of calculating financial performance using five BASIC types of ratios: PROFITABILITY, liquidity, ACTIVITY, debt, and market. plz mark me as brainliest... |
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| 6. |
Xywszja iswwhatcsdzcxsssssssssssssssss |
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Answer» hxyccyzjzbdb d no akzh dzjznhfxjanx |
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| 7. |
Give your remarks on profit and loss appropriation account |
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Answer» ONG>Answer: I will not GIVE you Explanation: |
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| 8. |
What is an accounting |
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Answer» ong>ANSWER: ACCOUNTING is a process of recording, classifind and analysing TRANSACTIONS and events which are PRIMARILY of financial characters... |
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| 9. |
L.E.O BIRबताइए कि निम्नांकित कथन सही हैं या गलत :State whether the following statements are 'True' or 'False(1) रोकड़ बही और रोकड़ खाता एक ही हैं। |
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Answer» ong>Answer: sorry bro Explanation: |
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| 10. |
The realisation of assets and I pointpayments of liabilities as andwhen amount realised is called |
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Answer» ong>Answer: 3. Fill in the gaps with the correct form of the words in brackets. Add any preposition if necessary. 1x4 (a) We KEEP (look) NEW modes of entertainment. (b) In old days puppet show was like (great) people (c) We are (ASTONISH) the present rate of change in entertainment. (d) In recent days cricket has been (POPULAR) ADVERTISEMENTS. |
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| 11. |
Exmaine the various classification of audit |
Answer» ONG>Answer:the answer is in the picture see the FULL pictureExplanation: give thanks and mark me as brainliest answerfollow me I'll follow back for right and brilliant answer for your question |
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| 12. |
The realisation of assets and payments of liabilities as andwhen amount realised is calledOevaluationO O RealisationO Piecemeal DistributionO Distribution of Capital |
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Answer» ong>Answer: the is Answer realisation i hope my answer is CORRECT |
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| 13. |
Sold goods of Rs. 99000 to Amarendra at 20% TD. Which accounts will be included in the journalentry? |
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Answer» ong>ANSWER: Jab tumhe Jindagi me KOI raasta dikayi na dekoi manzil dikayi naa De koi AAPNA dikayi naa detab nere sath aana ham EYE SPECIALIST'''''''ke pass CHALENGE""""" --------------------------------- |
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| 14. |
36. Goods costing of Rs 2,00,000 sold at a profit of 1/4 of cost and cash discount allowed to customer 2%. Half of the payment received in cash:-(1 Point) |
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Answer» ong>Answer: so SRY Explanation: this QUESTION I don't know because I am science STUDENT. and PLEASE comment me for any problems |
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| 15. |
Give an example for liability |
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Answer» ong>Explanation: For example, if a business takes out a MORTGAGE PAYABLE over a 15-year period, that is a long-term liability. ... Some EXAMPLES of short-term liabilities include PAYROLL expenses and accounts payable, which includes money owed to VENDORS, monthly utilities, and similar expenses. |
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| 16. |
What is life insurance. |
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Answer» ong>Answer: Life insurance is a contract between an insurance policy holder and an insurer or ASSURER, where the insurer PROMISES to pay a designated BENEFICIARY a sum of MONEY in exchange for a premium, upon the death of an INSURED person. This is your answer. Hope this helps you! Explanation: |
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| 17. |
૧) પાનોત્રી એટ્લે શુ? |
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Answer» ONG>ANSWER: JAB tumhe Jindagi me koi raasta dikayi na dekoi manzil dikayi naa De koi aapna dikayi naa detab nere sath aana HAM EYE SPECIALIST'''''''ke pass chalenge""""" --------------------------------- |
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| 18. |
जिन पर कीधारकराहुल लिानीटेट ने10 २ वाले दिन 60 अंशमाती। जिनपर आवेदन तथाਖੇਤਰसाशके लिरदियेधरणलियाअंश पूर्णदनसे ६ पति अंश की दर से पुननिमारितिJRअशीनी से 50करदिये |
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Answer» ong>ANSWER: sorry but I don't know the answer but PLEASE MARK me brainliest because I have not got a singlle brainliest mark TILL now so I request you please mark me brainliest. |
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| 19. |
(3) Distinguish between Financial Accounting and Management Accounting |
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Answer» er: Explanation: ANIF Financial accounting means accounting we are learn in class room Management accounting: Management accounting is the process of preparing REPORTS about business operations that help managers make short-term and long-term decisions. It helps a business PURSUE its goals by identifying, measuring, analyzing, interpreting and COMMUNICATING INFORMATION to managers. |
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| 20. |
पर पर3रोहित लिमिटेड ने 20 21.D २ वाले प्रति अंश पीमियमनियमित किर जिन 9मोदीमोहन नेआवरन पीमियम साहितकिर। अत:उसके अंशीयाचनाकर लिया गया और अंशो को पूर्णदत्रसभी अंशों कोअरूणकोपतिके हिसाब से पुनर्निगमित कर दिया ।भुगतान नहींउनमानने हरआश |
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Answer» ONG>ANSWER: पर पर 3 रोहित लिमिटेड ने 20 21.D २ वाले प्रति अंश पीमियम नियमित किर जिन 9 मोदी मोहन ने आवरन पीमियम साहित किर। अत: उसके अंशी याचना कर लिया गया और अंशो को पूर्णदत्र सभी अंशों को अरूण को पति के हिसाब से पुनर्निगमित कर दिया । भुगतान नहीं उन मानने हर आश |
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| 21. |
Bought goods from worth RS. 10,000 @10% calculateamount paid to Rajan |
| Answer» ONG>Answer: | |
| 22. |
What do you mean by the ledger |
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Answer» ong>Answer: An ACCOUNTING ledger is an account or RECORD USED to store BOOKKEEPING entries for balance-sheet and income-statement transactions. Accounting ledger journal entries can include accounts like cash, accounts receivable, investments, inventory, accounts payable, accrued expenses, and customer deposits. Explanation: please vote me and thanks me |
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| 23. |
Sold goods costing rupees 12000 to Thakur and Co., issued at 20% above cost less 10% discount. |
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Answer» ER: EXPLANATION:CASH RECEIVED 12960 |
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| 24. |
2 points 10. One third of the 60,000 goodssold at a profit of 10% on cost and halfof the payment is received in cashwhat amount rece edRs. 10,000Rs. 9000Rs.11,000Rs. 12,000pls reply |
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Answer» ONG>Answer: 12000 Explanation: |
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| 25. |
Account and Partners Capital Accounts. €19 - X, Y and Z are in partnership with capital of Rs. 1,20,000 (credit), Rs. 1,00,000 (credit) and Rs.8,000 (Debit) respectively on 15 April, 2017. Their partnership deed provides for the following:i) 7.5% of Net Profit to be transferred to General Reserve.ii)Partners are to be only allowed interest on capital @ 5% p.a. and are to be chargedinterest on drawing @ 6% p.a.iii) Z is entitled to a salary of Rs. 7,000.iv)X is entitled to a remuneration of 10% of the net profit before making any appropriation.v) Y is also entitled to a commission of 8% of the net profit before charging Interest onDrawing but after making all appropriations.During the year, X withdrew Rs. 1,000 at the beginning of every month, Y Rs. 1,000 during themiddle of every month and Z Rs. 1,000 at the end of every month. On 1st October 2017, Zgranted a loan of Rs. 6,00,000.The Manager is entitled to a salary of Rs. 1,000 p.m. and a commission of 10% of net profitsafter charging his salary and commission.The net profit of the firm for the year ended on 31s march, 2018 before providing for any of theabove adjustments was Rs. 1,62,000.Prepare Profit and Loss Appropriation Account for the year ended on 31 March 2018.D1 |
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Answer» ONG>ANSWER: gghgdfgvvvcfcggggfftttf |
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| 26. |
Bought goods from worth Rs.10000 @10% T.D calculate amount paid to Rajan |
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Answer» ONG>ANSWER: PURCHASE.... Dr t.d......Cr cash...Cr Explanation: purchase...... 10,000 t.d........10,000*10/100=1000 cash.......10,000-1000=9000 |
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| 27. |
Sold 20 shares at rupees 65 per share journal entry |
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Answer» ong>Explanation: Buyer prospective Shares(company) a/c. dr To BANK a/c Brokerage a/c. dr To BANK a/c (Here you can also debit p&L a/c) SELLER prospective remember one thing here 2 parties INVOLVED one is broker and one is company, Company Bank a/c Dr To SHARE CAPITAL a/c Broker Bank a/c Dr To sales a/c |
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| 28. |
10. One third of the 60,000 goods 2 pointssold at a profit of 10% on cost and halfof the payment is received in cashwhat amount received |
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Answer» ong>Answer: Given "Goods costing rs 24,000 sold at a profit of 100/3 % . Half the payment received in cash."
100/3% (Typo error) ... 1/3 (after CORRECTION)
Cost Price= 24000
Profit = 24000 × 1/3 = 8000
SELLING Price= 24000 + 8000 =32000
Of which half payment is recieved in cash.... 32000/2 = 16000
Remaining 16000 on credit...
So this transaction affects 3 accounts ... Sales a/c ( being Goods sold) , Cash a/c ( half of the payment is recieved in cash) , Debtor a/c(remaining half on credit)..
Sales a/c is a nominal account..(All incomes GAINS LOSSES expenses come under it... Sales is an income)
Cash a/c is a real account...(All the assets and Liabilities come under it.... Cash is an asset)
Debtor is a Personal account..(As the Name suggests)
The 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........
Cash should be debited.. Because its coming in
Debtor Being the receiver should be debited..
Sales being an income should be credited...
So the Journal Entry will be....
Cash a/c Dr 16000
Debtor a/c Dr 16000
To Sales a/c. 32000
(Being Goods Sold)
Read more on Brainly.in - brainly.in/question/4854179#readmore Explanation: Given "Goods costing rs 24,000 sold at a profit of 100/3 % . Half the payment received in cash."
100/3% (Typo error) ... 1/3 (after Correction)
Cost Price= 24000
Profit = 24000 × 1/3 = 8000
Selling Price= 24000 + 8000 =32000
Of which half payment is recieved in cash.... 32000/2 = 16000
Remaining 16000 on credit...
So this transaction affects 3 accounts ... Sales a/c ( being Goods sold) , Cash a/c ( half of the payment is recieved in cash) , Debtor a/c(remaining half on credit)..
Sales a/c is a nominal account..(All incomes gains losses expenses come under it... Sales is an income)
Cash a/c is a real account...(All the assets and Liabilities come under it.... Cash is an asset)
Debtor is a Personal account..(As the Name suggests)
The 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........
Cash should be debited.. Because its coming in
Debtor Being the receiver should be debited..
Sales being an income should be credited...
So the Journal Entry will be....
Cash a/c Dr 16000
Debtor a/c Dr 16000
To Sales a/c. 32000
(Being Goods Sold)
Given "Goods costing rs 24,000 sold at a profit of 100/3 % . Half the payment received in cash."
100/3% (Typo error) ... 1/3 (after Correction)
Cost Price= 24000
Profit = 24000 × 1/3 = 8000
Selling Price= 24000 + 8000 =32000
Of which half payment is recieved in cash.... 32000/2 = 16000
Remaining 16000 on credit...
So this transaction affects 3 accounts ... Sales a/c ( being Goods sold) , Cash a/c ( half of the payment is recieved in cash) , Debtor a/c(remaining half on credit)..
Sales a/c is a nominal account..(All incomes gains losses expenses come under it... Sales is an income)
Cash a/c is a real account...(All the assets and Liabilities come under it.... Cash is an asset)
Debtor is a Personal account..(As the Name suggests)
The 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........
Cash should be debited.. Because its coming in
Debtor Being the receiver should be debited..
Sales being an income should be credited...
So the Journal Entry will be....
Cash a/c Dr 16000
Debtor a/c Dr 16000
To Sales a/c. 32000
(Being Goods Sold)
Read more on Brainly.in - brainly.in/question/4854179#readmore |
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| 29. |
A and B are partners in a firm sharing profit and losses in the ration of 1:1 . C Is admitted a surrenders 1/4th share and B surrenders 1/4 th of his share in the favour of C. calculate the new profit sharing ratio. |
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Answer» 3 Explanation: A:B=1:1 C is admitted to the firm A surrender 1/4th SHARE THEREFORE, A's NEW share = 1/2-1/4=2/8 B surrender 1/4th of his share =1/4×1/2=1/8 therefore, B's new share =1/2-1/8=3/8 C's share=1/4+1/8=3/8 hence, new PSR =2:3:3 |
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| 30. |
Vijaya sold her Furniture for Rs. 10000. the book value of the furniture is Rs. 6000. what will be entry |
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Answer» Answer: Here is your answer Explanation: |
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| 31. |
If the business donates ststionery which account will be credited? |
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Answer» hdiojiNjsjhz9928495050405069 |
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| 32. |
Bhamashah Company Limited made an issue of 1,00,000 equity shares of Rs 10 each at a premium of 20% payable as follows: On application Rs 2.50 per share On allotment Rs 4.50 per share On first and final call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had applied for 800 shares did not pay allotment and final call money with result his shares were forfeited. Later on, 80% of forfeited shares were reissued Rs 8 per share fully paid up. |
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Answer» Answer: follows: On APPLICATION Rs 2.50 PER share On allotment Rs 4.50 per share On FIRST and FINAL call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had APPLIED for 800 shares did not pay allotment and final call |
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| 33. |
Give 2 examples of revenue. |
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Answer» EXAMPLES of revenue accounts include: SALES, SERVICE Revenues, Fees Earned, Interest Revenue, Interest Income. Revenue accounts are credited when services are performed/billed and therefore will usually have credit BALANCES. |
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| 34. |
Ankita withdrew * 2,000 from business for personal use at the end of everymonth during the year 2017-18. The interest on drawings @ 10% will be : [1](A) < 1,200(B) * 1.100(C) 3 1,300(D) * 2.400TIMTIF 11Toute |
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Answer» Answer: Explanation: 2000×12=24000 24000×10/100×5.5/12=1100 {5.5/12 is the formula for monthly DRAWINGS at the end of every MONTH} |
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| 35. |
Define liability in accounting |
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Answer» A liability is SOMETHING a person or company owes, usually a sum of money. ... Recorded on the right side of the balance sheet, liabilities INCLUDE LOANS, accounts payable, mortgages, deferred revenues, bonds, WARRANTIES, and accrued expenses. |
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| 36. |
Oral communication is also known as" |
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| 37. |
Opening stock can be ascertaining by preparinPreparing |
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| 38. |
Plant and machinery account type * |
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Answer» Property, PLANT and equipment is the long-term asset or noncurrent asset section of the balance sheet that REPORTS the tangible, long-lived ASSETS that are used in the company's operations. These assets are COMMONLY referred to as the company's fixed assets or plant assets. |
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| 39. |
12. Goods distributed as free sample is *Real accountNominal accountpersonal accountImpersonal account |
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| 40. |
On consolidated working sheet, a subsidiary's net income isSelect one:a. only an entry in the parent company's general ledgerb. deducted from ending consolidated retained earnings.C allocated between the noncontrolling interest share and the parent's shad. deducted from beginning consolidated retained earnings.tion |
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Answer» thanxforfreepoints... |
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| 41. |
9. The Balance sheet of A, B and C as at 31" March 2016 is set out below, they share profitsand losses in the ratio of 2.1.1:LiabilitiesCreditors84,00035,000AssetsCash atBankDebtorsReserve26,0001,80,0007,00,000Stock2,15,000CapitalAccountsA3,00,000B2,00,000с2,00,000Profit for40,0004,20,000FixedAssetsthe year2015-168,50,0008,50,000The above balance sheet is wrong, since Chas retired with effect from 1 January, 2016. Noadjustments have been made in the books on C's retirement.You are required to make them and redraft the balance sheet. The goodwill of the firm wasvalued at 72,000 |
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Answer» : Liabilities Creditors 84,000 35,000 Assets Cash at Bank Debtors Reserve 26,000 1,80,000 7,00,000 Stock 2,15,000 Capital Accounts A 3,00,000 B 2,00,000 с 2,00,000 Profit for 40,000 4,20,000 Fixed Assets the year 2015-16 8,50,000 8,50,000 The above BALANCE sheet is wrong, since Chas retired with effect from 1 JANUARY, 2016. No adjustments have been made in the BOOKS on C's retirement. You are required to make them and redraft the balance sheet. The goodwill of the firm was valued at 72,000 |
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| 42. |
In steel miles the cost unit is |
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Answer» I svshsgshkssvshdhsjsj djgdjegdhjdvdkdhdjdhdbffgjfifbf JDBD dbvrbdkdvdkdvbdjdvdjd dbdjd F |
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| 43. |
2) In steel miles, the cost unit is |
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Answer» thanxforfreepoints.. |
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| 44. |
Sale of old newspaper will be treated as? |
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Answer» Answer: The sale proceeds of OLD newspapers are treated as capital receipts and THUS are CREDITED to the respective FIXED assets but , the profit on sale of old newspapers must be shown in the income side of Income & Expenditure A/c and loss on sale of old newspapers must be shown in the expenditures side of Income |
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| 45. |
Following details are extracted from the records of a company :2000 9% Pref. Shares of 100 each50,000 equity shares of 10 each 8 per share paid upExpected ProfitTax RateTransfer to general reserveNormal rate of earningYield value per share is2 ₹2,00,0004,00,0002,18,00040%20%15% |
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Answer» Answer: Explanation: MARK me as brainliest |
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| 46. |
Determine the selling price per unit if a net profit of R624 600 is desired |
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Answer» thanxforfreepoints... |
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| 47. |
Management AccountingQ40While computing proprietary ratio, total assets are taken as equal toO Own funds + loans -current liabilitiesO Capital employedO Fixed assets + investments + current assetsO Fixed assets + investments +working capital |
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Answer» Answer: TOTAL ASSETS = Fixed assets + INVESTMENT +CURRENT assets |
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| 48. |
Management AccountingQ8Cash flow statement provides information thato provides basis for financial planningO supplements the P&L A/c and Balance sheet.O is independent of financial statementsO of a cash budgetType here to search |
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| 49. |
Sold goods of ₹ 2,00,000 at 10% Trade Discount and 10% cash discount to John and received 40% amount by Cheque. Calculate the amount of Cheque received. * |
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Answer» LIST price of SELLING GOODS = 200000 (-) 10%TRADE discount =. 20000 Amount of sales =. 180000 John paid 40% amount of 180000 =. 72000 On patment he got 10% cash discount =. 72000-(72000*10%) = 72000-7200 = 64800 Amount of cheque received = 64800 |
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| 50. |
1. Give answer as per Instruction:(1) From the following information calculatetotal sale made by Roshanl and writejournal entry in the book of Chandni.1. In total credit sale, 5% sale isrecommendation sale,2.32500 is bad debt at 10% of credit sales ofrecommendation,3. Cash sale is 15 of total sales.(2) Ruchi and Prachi entered into a Jolntventure involving the buying 3 and sales todolls. From the following information find outcost of sales and purchase price ofdolls.Sales made by Ruchi amounted to 1,41,660.Whenever sales made by Prachiamounted to 1,01,340.unsold dolls weretaken over by Ruchi and Prachi for10800 and 316200 respectively. With profitthese goods taken over at 33%% oncost price of gross profit that was reallzedon total sale. |
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Answer» Thanxforfreepoints... |
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