Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets

Amount withdrawn by the owner for his personal expenses is called __________  (a) Drawings  (b) Personal expenses  (c) Cash  (d) Assets
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Amount withdrawn by the owner for his personal expenses is called __________ (a) Drawings (b) Personal expenses (c) Cash (d) Assets
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Goods withdrawn by the proprietor for his personal use are A. Shown as a deduction from the purchases B. Shown as a deduction from the sales C. Treated as sales at cost price D. Added to the purchases

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All actual expenses in cash and kind incurred in production by owner operator

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Last Answer : a) Expenses

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Last Answer : B. Wages paid for the erection of plant and machinery.

Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

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Last Answer : D. Depreciation on fixed assets.

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Which of the following is an example of fraudulent financial reporting? a. The treasurer diverts customer payments to his personal due, concealing hisactions by debiting an expense account,thus overstating expenses. b. Company management changesinventory count tags and overstatesending inventory, while understatingcost of goods sold. c. An employee steals inventory and the“shrinkage” is recorded in cost of goodssold. d. An employee steals small tools from thecompany and neglects to return them;the cost is reported as a miscellaneousoperating expense

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Last Answer : Company management changes inventory count tags and overstates ending inventory, while understating cost of goods sold

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Description : Implied admission in written statement cannot be allowed to be withdrawn.  However, the plaintiff can be insisted upon to prove his case a) Uttam Chand Kothari Vs. Gauri Shankar Jalan. b) Jai Shankar Prasar Vs. State of Bhihar c) Afzauddin Ansary Vs. State of West Bengal d) None of these

Last Answer : a) Uttam Chand Kothari Vs. Gauri Shankar Jalan.

X, Y, Z started a business with their investment in the ratio of 4/5: 4/7: 5/9, after 6months. X has withdrawn half of his investment. Also X will get 30% of profit for being an active partner. At the end of a year total profit earned was Rs. 54750. Then find the total profit earned by Y and Z? A) 25200 B) 28600 C) 25010 D) 26867

Description : X, Y, Z started a business with their investment in the ratio of 4/5: 4/7: 5/9, after 6months. X has withdrawn half of his investment. Also X will get 30% of profit for being an active partner. At the ... Rs. 54750. Then find the total profit earned by Y and Z? A) 25200 B) 28600 C) 25010 D) 26867

Last Answer : Answer: C) Let investment of X, Y, Z be 4/5 x,4/7x &5/9 x =>252x, 180x & 175x Profit ratio of X, Y, Z is 252x*6+126x*6:180x*12 :175x *12 =189:180:175 Active partner X's amount= ... 30/100 =Rs.16425 Remaining profit =54750-16425 =Rs.38325 Total profit earned by Y*Z= 38325*355/544 =Rs. 25010

Which one of the following is an example of a customer in an organizational market ? 1. a homemaker who buys detergent 2. a consumer who hires a solicitor 3. a shop owner who buys pencils fo ruse in his shop 4. a plant manager who buys petrol for her personal car 5. none of these

Description : Which one of the following is an example of a customer in an organizational market ? 1. a homemaker who buys detergent 2. a consumer who hires a solicitor 3. a shop owner who buys pencils fo ruse in his shop 4. a plant manager who buys petrol for her personal car 5. none of these

Last Answer : a plant manager who buys petrol for her personal car

Which one of the following is an example of a customer in an organisational market? A)a homemaker who buys detergent B)a consumer who hires a solicitor C)a shop owner who buys pencils for use in his shop D)a plant manager who buys petrol for her personal car

Description : Which one of the following is an example of a customer in an organisational market? A)a homemaker who buys detergent B)a consumer who hires a solicitor C)a shop owner who buys pencils for use in his shop D)a plant manager who buys petrol for her personal car

Last Answer : D)a plant manager who buys petrol for her personal car

Regional Zones were called __________ 

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Last Answer : Regional Zones were called __________ (a) Sabha (b) Sangharajya (c) Khanda (d) Mahajanpada

The function of a secretary to look after the inward and outward mail is called __________ 

Description : The function of a secretary to look after the inward and outward mail is called __________ 

Last Answer : The function of a secretary to look after the inward and outward mail is called __________ (a) Reception (b) Statutory (c) Correspondence

The difference between the capital at the end of the year and capital at the beginning of the year is called __________ 

Description : The difference between the capital at the end of the year and capital at the beginning of the year is called __________ 

Last Answer : The difference between the capital at the end of the year and capital at the beginning of the year is ... (b) Income (c) Drawings (d) Expenses

A list of balances of all the accounts in ledger is called __________ 

Description : A list of balances of all the accounts in ledger is called __________ 

Last Answer : A list of balances of all the accounts in ledger is called __________ (a) Balance Sheet (b) Profit and ... c (c) Trading A/c (d) Trial Balance

Left hand side of an account is called __________ 

Description : Left hand side of an account is called __________ 

Last Answer : Left hand side of an account is called __________ (a) Credit (b) Debit (c) Middle (d) Centre

Customs and traditions which guide the accountants to prepare accounting statements are called __________ 

Description : Customs and traditions which guide the accountants to prepare accounting statements are called __________ 

Last Answer : Customs and traditions which guide the accountants to prepare accounting statements are called __________ (a) ... (c) Concepts (d) Procedure

Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for the __________ 

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Last Answer : Sense of territoriality and the ensuing awareness of autonomy were the main factors responsible for ... d) formation of ancient janapadas in India.

In ancient Indian literature, the post of secretary is referred as __________ 

Description : In ancient Indian literature, the post of secretary is referred as __________ 

Last Answer : In ancient Indian literature, the post of secretary is referred as __________ (a) Sachiva (b) Scribae (c) Secretarius

In ancient Indian history, secretary was referred to as __________ 

Description : In ancient Indian history, secretary was referred to as __________ 

Last Answer : In ancient Indian history, secretary was referred to as __________ (a) Scribae (b) Secretarius (c) Amatya

The capital at the beginning of the accounting year is ascertained by preparing __________ 

Description : The capital at the beginning of the accounting year is ascertained by preparing __________ 

Last Answer : The capital at the beginning of the accounting year is ascertained by preparing __________ (a) ... of Affairs (d) Closing Statement of Affairs

Under single Entry system, Profit = Closing Capital less __________ 

Description : Under single Entry system, Profit = Closing Capital less __________ 

Last Answer : Under single Entry system, Profit = Closing Capital less __________ (a) Opening Capital (b) ... Assets (c) Opening Liabilities (d) Drawings

If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ 

Description : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ 

Last Answer : If closing capital is ₹ 30,000 and profit is ₹ 5,000 opening capital was __________ (a) ₹ 35,000 (b) ₹ 30,000 (c) ₹ 25,000 (d) ₹ 15,000

The ancient civilisations of Mesopotamia and Harappa had cultural ties with each other because of __________ 

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The first settlement of the Early Harappan period was established __________ 

Description : The first settlement of the Early Harappan period was established __________ 

Last Answer : Choose the correct reason and complete the sentence: The first settlement of the Early Harappan period was established ... .E (d) around 3300 B.C.E

The evidence of the first excavations at Harappa had indicated __________ 

Description : The evidence of the first excavations at Harappa had indicated __________ 

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Lothal was excavated by __________ 

Description : Lothal was excavated by __________ 

Last Answer : Lothal was excavated by __________ (a) J. P. Joshi (b) S. R. Rao (c) R. D. Banerjee (d) Madho Swarup

Financial statements are a part of __________ 

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In cash transaction, goods or services are exchanged for __________ 

Description : In cash transaction, goods or services are exchanged for __________ 

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Under ______ debentures, if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Description : Under ______ debentures, if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors A. Secured Debentures B. ... ) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Last Answer : A. Secured Debentures Explanation: These instruments are secured by a charge on the fixed assets of the issuer company. So if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors.

How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

Description : How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

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The rule debit all expenses and losses and credit all income and gains relates to A] Personal account B] Real account C] Nominal accounts D] All

Description : The rule debit all expenses and losses and credit all income and gains relates to A] Personal account B] Real account C] Nominal accounts D] All

Last Answer : C] Nominal accounts

Bank deposits that can be withdrawn without notice are called - (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Description : Bank deposits that can be withdrawn without notice are called - (1) account payee deposits (2) fixed deposits (3) variable deposits (4) demand deposits

Last Answer : (4) demand deposits Explanation: Demand deposits are funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution. Demand ... of account which cannot be accessed for a predetermined period (typically the loan's term).