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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. |
15. Value of whole business less netassets appearing in the financialstatement is the amount ofof the companyO . ReserveO · GoodwillO . Super profitO • Normal profit. |
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Answer» Answer: super profit Explanation: hope it HELPED PLEASE MARK me as the BRAINLIEST and please FOLLOW me |
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| 2. |
From the following information, calculate Net Cash from Operating Activities and Investing Activities:Particulars31 March 201831 March 2019Surplus, i.e. Balance in Statement of Profit and LossProvision for TaxTrade Payables +Current Assets (Trade Receivables and Inventories) -Fixed Assets (Tangible)Accumulated Depreciation2,50,00075,0001,00,00011,50,00021,25,00010,62,50010,00,00075,0003,75,00013,00,00023,30,00011,00,000Additional information:1) A Machinery having a net book value of 100000(depreciation provided thereon rs. 162500 ) was sold at a loss of rs. 20000(ii) Tax paid during the year 75.000 |
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Answer» Answer: |
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| 3. |
अर्थशास्त्र के प्रमुख विभागलिखिटालामाटal |
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Answer» टाला Explanation: answer of अर्थशास्त्र के प्रमुख विभाग लिखि टाला माट al |
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| 4. |
direct material per unit material @2 per unit: 5 unit material- @ rs 1 per unit: 5 unit number of unit produced 6900 |
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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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| 5. |
2. Continuous stock taking is a part of(a) Annual stock taking(c) ABC analysis(b) Perpetual inventory(d) None of the above |
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Answer» Explanation: Continuous stock taking is a part of Annual stock taking hope it helped please MARK me as the BRAINLIEST and please follow me |
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| 6. |
The terms capital and capitalization are synonymous. *1)False2)True |
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Answer» Answer: True The terms capital and capitalization are SYNONYMOUS |
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| 7. |
The word stimulation means |
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Answer» Answer: excite to activity or growth or to GREATER activity : animate, arouse. 2A : to FUNCTION as a physiological stimulus to. b : to arouse or affect by a stimulant (such as a drug) intransitive verb. : to ACT as a stimulant orstimulus. |
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| 8. |
due to continuous fall in the property prices Mahesh trader want to charge depreciation @ 10% per annum on its land is it a correct decision? |
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Answer» Explanation: Land can never be DEPRECIATED. Since land cannot be depreciated, you need to ALLOCATE the ORIGINAL purchase price between land and building. You can use the property tax assessor's VALUES to COMPUTE a ratio of the value of the land to the building. |
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| 9. |
सम विच्छेद बिंदु व सुरक्षा सीमा किसे कहते हैं |
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Answer» Answer: विक्रय अथवा उत्पादन की वह मात्रा जिस पर न लाभ होता है न ही हानि, सम-विच्छेद बिन्दु (BREAK Even Point) कहलाता है । ... इस बिन्दु अथवा सीमा की गणना गणित के माध्यम से की जाती है । इसे लाभ का ग्राफ (Profit GRAPH) भी कहते हैं । |
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| 10. |
Use of debt-capital to gain is known as *1)Financial operating leverage2)Financial leverage3) and operating ratio4)Operating leverage |
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Answer» Answer: The answer is 2) Financial leverage It is ALSO TERMED as TRADING on equity. keep learning... |
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| 11. |
Which of the following is not a excluded in compound computation of the total cost |
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| 12. |
Raditionally, the role of finance manager was limited to *1)Utilisation of funds 2)Raising of funds 3)Making dividend decision |
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Answer» Answer: I don't know but I will try to answer Explanation: |
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| 13. |
8. Rectify the following:- (4)a. Credit sales to Mr. Ramesh Rs. 15,000 recorded as Rs. 1,500.b. Salary paid Rs. 5,500 recorded in employee's personal account.c. Rent paid Rs. 7,500 was not recorded.d. Credit purchases from Raghav Rs. 20,000 recorded in Sales Book. (Non-anor> |
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Answer» 48,000 hdjdjdjdjdhdhdh OPPS |
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| 14. |
If actual output is lower budget output which of following cost would you expect to be lowr than original budget.. |
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| 15. |
52. Contract price is Rs. 500000, work certified is 60% payment from the contractees is 80 % the amountof payment received isRs. 240000Rs. 230000Rs. 140000Rs. 50000Answer- |
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| 16. |
according to the Companies Act 2013 all the companies are required to maintain their accounts according to 1.cash basis 2. accrual basis 3.either A and B 4.neither a and b |
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Answer» hyii Explanation: itsmissabhii how are U |
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| 17. |
6. Following details are available in respect of a consignment of 1250s of material(a) Invoice price. 20 per kgtb) Excise Duty-25% on invoice price(c) Sales Tax-8% on invoice price including Excise Dutyid) Trade Discount-109 on invoice pricefe) Insurance-19 of aggregate net priorDelivery charges-250g) Cost of containers @ 60 per container for 50 kgs of material. Rebate is allowed 7 40per container if returned within six weeks, which is a normal feature(h) One container load of material was rejected on inspection and not accepted.w Cost of unloading and handling 0.25% of the cost of materials ultimately aceptedOn the basis of above, you are required to find out the landed cont of per kg of material Xns. [25.92] |
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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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| 18. |
(0)c) * 1.408.33capital for the year ending 31st March, 2014.33. X and Y started business on 1st April, 2013 with capitals of 5,00,000 and 3,00,000 respectiveOn 1st May 2013, X introduced an additional capital of 1,00,000 and Y withdrew 50,000 freehis capital. On 1st October 2013, X withdrew 32,00,000 from his capital and y introduce2,50,000 on his capital. Interest on capital is allowed @ 6% p.a. Calculate the interest |
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Answer» yfugnlgjkbnnnnnnn7777 |
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| 19. |
Which of the following are thedirect expenses |
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Answer» Direct expenses WOULD refer to anything that is RELATED to what you have BOUGHT |
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| 20. |
3.Prepare Bank Reconciliation Statement of Prakash & Co. on 31st March 2016 fromthe following information-(1) Debit balance of Cash Book 7,500.(2) A cheque worth 1.200 was deposited into Bank for collection but theamount has not yet been collected.(3) A cheque worth 2,600 was issued on 28th March but was not yetpresented for payment.(4) The Bank credited interest of 125 in the Pass Book but it was notentered in the Cash Book.(5) Bank charges of 25 were debited in the Pass Book but the same couldnot be entered in the Cash Book. |
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Answer» Answer: i am not ABLE to answer your question।।।।।।।।।sorry Explanation: don't forget to experience MODERN INDUSTRIALISATION and learning and smart ways to experience modern industrialisation is an AUTOMATICALLY generated based upon them |
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| 21. |
Deposited with the bank the entire balance after retaining 5000 for office use . cash book entry |
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| 22. |
Trail BalanceAccountoCashFurniture AlcCapital AlQiscount Alca3SaoGoods Alc.Salary AlcCiscount Alcdrawing1,000 se7a)Commission Alc10017001. reading a/c, P&L a/c , balance shrey? |
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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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| 23. |
Difference between statement and accounting |
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Answer» Answer: is that ACCOUNT is (ACCOUNTING) a registry of pecuniary transactions; a written or PRINTED statement of business dealings or debts and credits, and also of other things subjected to a RECKONING or REVIEW while statement is a declaration or remark. |
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| 24. |
Lom work12/5Q2. X, Y and Z are partners sharing profits and losses in the ratio of 2:2:1. Their capital balances on01.04.2018 stood at 390,000, 360,000 and 40,000 respectively. Y died on 01.01.2018 partnership deedprovides the following:a) Interest on capital at 10% p.a.b) Salary to Y 32,000 per monthc) Y's share in Goodwilld) His share of profit up to the date of death on the basis of previous year's profit.1)Total goodwill of the firm is 54,000Profit of the firm for the year 2017-18 is 30,000You are required to ascertain the amount payable to Executors of Y by preparing Executor's Account.S4,000 X |
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Answer» cvhhhhhj HF hhhhhh Explanation: rorezra2056w |
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| 25. |
X Itd forfeited 500 shares of Rs. 10 each fully called up for non payment of fina cal of Rs 3per share. 300 of these shares were issued as fully paid up and after reissue the amounttransferred to capital reserve was R. 1800. what is the reissue price(a) Rs.6 per share (b) Rs.8 per share (c) Rs.7 per share (d) Rs.9 per share |
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Answer» Answer: 7 per share Explanation: because non payment of final CALL is 3 RS so REMAINING 7 rs is REISSUE PRICE |
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| 26. |
Calculate selling price if goods costing rupees 60000 sold at a profit of 30% on cost |
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Answer» Answer: 73847 Explanation: 60,000×30÷130=13847 and after that we will ADD 60,000+13847=73847 |
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| 27. |
1.Rajesh, Rakesh and Mahesh were equal Partner on 31st March 2019. Their Balance Sheetwas as follows 31" March 2019Balance Sheet as on 31" March 2019AmtLiabilitiesCapital Account:RajeshRakeshMaheshSundry creditorsBills PayableBank loan5,00,0002,00,0002,00,00090,00060,0001,50,000AssetsLand and BuildingFurnitureDebtorsStockCashAmt4,00.0003,00,0003,00,0001,00,0001,00,00012,00,00012,00,000Mr. Rajesh died on 30th June 2019 and the following adjustment were agreed as1) Furniture was to be adjusted to its market price of 3,40,0002) Land and Building was to be depreciated by 10%3) Provide R.D.D 5% on debtors4) The Profit upto the date of death of Mr. Rajesh is to be calculated on the basis of last yearsprofit which was 1,80,000Prepare 1) Profit and Loss adjustment A/c, 2) Partners capital account, 3) Balance sheetof the continuing firm |
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| 28. |
सोल्ड गुड्स फ्रॉम सरिता 84 परसेंट 8:15 पर्सेंट डिस्काउंट 10% कैश डिस्काउंट 20% अकाउंटेंट जनरल एंट्री |
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| 29. |
Arjun Ltd. Invited application for 50,000 equity shares of Rs. 10 each at a premium of 10% payable along with the allotment. The amounts were payable as follows: (8)On Application Rs. 4 per share.On Allotment Rs. 4 per share (including premium)On First and Final call- balanceApplications for 70,000 shares were received of which 10,000 shares were rejected and the remaining applicants were given pro-rata allotment. Excess application money was applied towards sum due on allotment.Arvind to whom 1,500 shares were allotted failed to pay the allotment money. His shares were forfeited immediately after allotment. The forfeited shares were reissued @ 8 per share as fully paid up. Afterwards the final call was made. Ritu who applied for 1800 shares failed to pay the final call. Her shares were also forfeited and afterwards reissued @ 9 per share fully paid up. Journalise the above transactions. |
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Answer» FULL amount (50, 000×3 = 1,50,000) is RECEIVABLE because we've already reissued SHARES in between the installments. PLEASE check the attachment |
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| 30. |
5. A loss arising due to theft, fire etc. is :(A) Real Account(B) Personal Account (C) Nominal Account(D) None of these |
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| 31. |
Fixed Assets (BookValueRs.45,000) is under valued by 10%.Calculate the value (Dr./Cr.) tobe shown in Revaluation account.(a) Rs.4,500,Dr. (b) Rs. 4,500,Cr.(c) Rs.5,000,Dr. (d) Rs.5,000,Cr |
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Answer» Your answer will be C. 5,000 Dr. since the asset is valued less than actual. so we should DEBIT it to increase it to its REAL value.. keep learning... |
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| 32. |
Is there a discount allowed account is debit ?? |
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Answer» Discounts ALLOWED represent a debit or expense, while DISCOUNT received are REGISTERED as a credit or income. Both discounts allowed and discounts received can be further divided into trade and CASH discounts. The latter require double-entry bookkeeping. |
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| 33. |
Q4. Which of the following is NOT a 1 pointQualitative Characteristics ofAccounting Information? [1]OO ReliabilityO RelevanceO RelativityO Comparability |
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| 35. |
Ram paid rs.117,000 in full settlement |
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Answer» If you are asking journal ENTRY it will be Bank a/c. Dr. 117,000 Discount a/c. Dr. (actual AMOUNT- 117,000) To Rams a/c 117,000+discount
Keep LEARNING..... |
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| 36. |
Identify the wrong statement?Ind-AS are formed by adopting IFRSCompliance to Accounting standards is Mandatory.Ind-AS are principle based while Accounting Standards are rule basedAS brings qualitative characteristics in accounting information. |
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| 37. |
The cost of a calculator will be treated as an expense in that particular year in which it is purchased although it may be used for 3-4 years. Name the accounting concept which is applied here and also explain it. [2] |
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Answer» the cost of the calculater will be treated as an expense in that particular year in which is purchased although it MAY be USED for 3-4 year, this is in accordance to the concept of materiality.. *explanation* - the convention of the materiality anticipated that in accounting only those translation will be evaluated which have a SUBSTANTIAL impact on the financial STANDING of the organisation and the other dealing which have unimportant effect will be ignored.. THANK you I hope I will be helpful to you |
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| 38. |
Explain the following accounts and classify them into Real, Personal and Nominal. (10)(1)Machinery(2)Interest(3)Depreciation(4)Loose tools(5)Reliance Industries(6)Capital(7)Debtors(8)Commission(9)Audit fees(10)Loss by theft |
Answer» Answer :-(1)MACHINERY(2)Interest✌️(3)Depreciation⛄(4)Loose tools♥️(5)RELIANCE Industries✌️(6)Capital✨(7)Debtors♥️(8)Commission✨(9)AUDIT fees♥️(10)Loss by theft ✌️
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| 39. |
Hii sir commerce and accounts ke micro topic mil sakte h kya upsc optional ke |
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Answer» HA ..mil SAKTE H It’s not a COMPULSORY SUBJECT |
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| 40. |
Following balance where extracted from the books of ravindra associates at 31st march 2017 |
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| 41. |
19. Following is the Receipts and Payments Account for the year ended 31st March 2018 of Jain Trust: (6)Receipts Rs Payments RsTo Balance b/dTo SubscriptionTo Sale of InvestmentTo Interest of InvestmentTo Sale of Furniture(Book value Rs. 6,000) 72,0001,01,20090,0003,0005,200 By RentBy SalaryBy Electricity ChargesBy Purchase of BooksBy Purchase of FurnitureBy Defence BondsBy Scholarship to StudentsBy Balance c/d 5,40012,0007,2008,00018,00050,00048,0001,22,800 2,71,400 2,71,400Prepare Income and Expenditure A/c for the year ending 31st March 2018 and Balance Sheet on that date on the basis of the following additional information:(a) Subscription outstanding for the year ended 31st March 2017 and 2018 are Rs. 7,000 and Rs. 17,000 respectively. Subscription of Rs. 2,000 of last year is still outstanding.(b) Interest on defence bonds Rs. 5,000 is outstanding.(c) Rent is outstanding for 3 months.(d) The book value of investment sold is Rs. 1,00,000. Investment of Rs. 20,000 is still in hands.(e) The trust owns a building of Rs. 90,000 and furniture of Rs. 30,000 in the beginning of the year. Depreciation @5% is to be provided on the assets. |
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Answer» Answer: Features a small child and puppy near a fireplace. ... Ads are OFTEN measured in IMPRESSIONS (the NUMBER of times a CONSUMER is EXPOSED |
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| 42. |
Appliences with accounting standards |
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Answer» Answer: 7e006edusitsotsotsotstootsso6so6sso6sdrdastridtdussd7e006edusitsotsotsotstootsso6so6sso6sdrdastridtdussdssserdedrrw |
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| 43. |
The purpose of preparing final accounts is to ascertain : *1 pointProfit and lossCapitalValue of assetsFinancial position |
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Answer» Answer: To KNOW the FINANCIAL POSITION and Performance of the business. keep learning... |
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| 44. |
A bill was drawn on 15th july 2018 for two months . its due date will be:15th september201816th september201817th september201818th september2018 |
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Answer» Answer: Explanation: kyuki BTANA h k 15 JULY k 2 months baad isko due krna h to 15 July 2018 se lekr 15 September 2018 TK due krna h |
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| 45. |
32. Given production is 100,000 units, fixed costs is $200,000, sellingprice is $10 per unit and variable cost is $6 per unit, determine profit.O A. $600,000O B. $400,000O C. $200,000O D. $250,000 |
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Answer» I Love You Harshita Nandal Studying in Class X'I'Sr CENTURY School Bahadurgarh Haryana no.9599**04** |
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| 46. |
20. Advertising expenses incurred in attractingmore clients to Pencil Ltd's business is anexample ofO A. Fixed costCEB. Variable costC. Direct CostD. Indirect cost |
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| 47. |
Which is the basis unit of measurment in accounting ? |
Answer» The BASIC unit of MEASUREMENT of the ACCOUNTING system is MONEY . |
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| 48. |
A bill was drawn on 15th july 2018 for two months . its due date will be |
| Answer» DUE DATE is till 15TH sep 2018 | |
| 49. |
Amar drew a bill on Sohan for Rs. 10,000 which is accepted by the later. The 6bill was dishonoured on due date. Pass journal entries in the books of boththe parties in the following cases:a. Amar retained the bill till maturity and paid Rs. 100 as notingcharges.b. Amar discounted the bill for Rs. 9,800 from a bank who paid notingcharges Rs. 100.c. Amar endorsed the bill to his creditor, Kamal who paid notingcharges Rs. 100.d. Amar retained the bill till maturity and sent the bill for collection tothe bank who paid noting charges Rs. 100.ORX drew a bill of exchange on Y for Rs. 8.000 on 1" April, 2016payable after 2 months. Y accepted it and returned it to X. The billis dishonoured on due date.Pass necessary journal entries in the books of X and Y in thefollowing cases:a. When bill was retained by X.b. When bill was discounted from bank on same date @6%p.a.c. When bill was endorsed to his creditor, Zd. When X sent the bill for collection to his banker a few daysbefore the due date. |
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Answer» your answer is ENDORSEMENT to his COLLECTION |
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| 50. |
Accounting equation is formed based on the accountiong princeple of what |
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Answer» Answer: Dual ASPECT concept is the basic concept of accounting, According to which EVERY business transactions has a dual effect. As the name implies , the entry MADE for each transaction is composed of two parts- one for the debit and the other for the credit. Every debit has an equal amount of credit. So, the total of all debits equal to the total of all credits. This gives basic accounting equation: ASSETS = Liabilities + Capital. Explanation: HOPE IT HELPS...... |
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