Description : In credit transactions, goods or services are purchased for cash only
Last Answer : State whether the following statement are true or false with reason : In credit transactions, goods or services are purchased for cash only
Description : In barter transactions, goods or services are purchased for other goods or services.
Last Answer : State whether the following statement are true or false with reason : In barter transactions, ... services are purchased for other goods or services.
Description : (i) Sale or purchase of goods or services for a certain value to be receivable or payable in the future.
Last Answer : Give the word term or phrase which can substitute each of the following statement : (i) ... services are withdrawn by the proprietor for self-use.
Description : What is the Gross National Product? a) The total value of Good and services manufactured in the country b) The total value of all the transactions in the country c) Reduction in the total value ... d) The total worth of goods and services generated in the country and net factor income from abroad.
Last Answer : Answer- d
Description : What do you mean by Gross National Product? a) The total value of goods and services produced in the country b) The total value of all transactions in the country c) Depreciation in the total ... d) The total value of goods and services produced in the country and net factor income from abroad
Description : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)
Last Answer : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders. a) Started ... 000 . c) Cash sales ₹ 60,000 .
Description : Which one of the following transactions changes the current ratio ? (A) Purchase of goods for cash (B) Plant acquired on account (C) Sold goods on credit (D) Debentures converted into equity capital
Last Answer : Answer: Plant acquired on account
Description : X Ltd. purchased a car from Maruti Udyog Ltd. for Rs. 5,00,000. As per agreement Rs. 80,000 was to be paid in cash and the balance by issue of shares of Rs. 10 each at a premium of Rs. 5 per share. How many ... . for the car ? (A) 30,000 shares (B) 29,000 shares (C) 28,500 shares (D) 28,000 shares
Last Answer : Answer: 28,000 shares
Description : Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.
Last Answer : B. Wages paid for the erection of plant and machinery.
Description : The tax which is levied on goods or services produced or purchased.
Last Answer : Ans. Indirect tax
Description : What are Capital goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumer goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above
Last Answer : : b) Goods such as tools, machinery, etc which are used to create final consumer goods
Description : What are consumption goods? a) Goods used for consumption in the production process b) Goods such as tools, machinery, etc which are used to create final consumption goods c) Goods and services that are consumed fully when purchased by the consumers d) None of the above
Last Answer : : c) Goods and services that are consumed fully when purchased by the consumers
Description : A ltd is a manufacturing company that has no production resource limitations for the foreseeable future. The Managing Director has asked the company mangers to coordinate the preparation of their budgets for the next financial year. In what order ... 5), (3), (2) (d) (4), (5), (3), (1), (2)
Last Answer : (b) (1), (5), (3), (4), (2)
Description : R. G. Ltd. purchased machinery from K.G. Company for a book value of Rs. 4,00,000. The consideration was paid by issue of 10%. Debenture of Rs. 100 each at a discount of 20%. The debenture account will be credited by– (A) Rs. 4,00,000 (B) Rs. 5,00,000 (C) Rs. 3,20,000 (D) Rs. 4,80,000
Last Answer : Answer: Rs. 4,00,000
Description : A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the contract progresses 2. a reimbursement of allowable cost of services ... unit rates and the final price is dependent on the quantities needed to carry out the work.
Last Answer : 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the final price is dependent on the quantities needed to carry out the work
Description : Which tools of the promotional mix is defined as any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor? A. advertising B. public relations C. direct marketing D. sales promotion
Last Answer : A. advertising
Description : Which tool of the promotional mix is defined as any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor? A. Advertising B. Public relations C. Direct marketing D. Sales promotion
Last Answer : A. Advertising
Description : In cash transaction, goods or services are exchanged for __________
Last Answer : In cash transaction, goods or services are exchanged for __________ (a) other goods (b) other services (c) immediate cash (d) grains
Description : Which of the following is not a key activity of an operations manager? a. Understanding Understanding the needs of customer customer b. Continually learning Continually learning c. Managing cash ... d. Exploiting Exploiting technology to technology to produce goods produce goods and ser and services
Last Answer : c. Managing cash flows
Description : Cash payment suppliers of goods and services are shown under-------------. a) Operating b) Financing c) Investing
Last Answer : a) Operating
Description : A distinctive sign that identifies certain goods or services produced or provided by an individuals or a company is calleda. Copyright b.Patents c. Trademark d. All of these
Last Answer : c. Trademark
Description : A distinctive sign that identifies certain goods or services produced or provided by an individuals or a company is called a. Copyright b.Patents c. Trademark d. All of these
Description : An account bag from the SO to HO contain a) The SO daily A/c, MO issue journal, MO paid list. b) List of SB transactions/List of SB documents c) Memo of IPO, Certificate, issued and discharged d) A rolls, daily list of PLI premia collected and paid e) All the above
Last Answer : e) All the above
Description : How is stamp duty paid in transactions where more than one instrument is required? a) Stamp Duty is paid on all the instruments equally b) Stamp Duty is paid on any one of the instrument c) Stamp ... and on the balance documents only minimum duty is payable d) Stamp duty is paid on ad valorem basis
Last Answer : c) Stamp duty is paid only on one of the principal instruments and on the balance documents only minimum duty is payable
Description : A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these
Last Answer : a) By notice
Description : (i) System in which entry is recorded for cash as well as credit transactions.
Last Answer : Give the word term or phrase which can substitute each of the following statement : (i) ... of goods or services for immediate cash payment.
Description : What does ECS in banking transactions stand for? (1) Excess Credit Supervisor (2) Extra Cash Status (3) Exchange Clearing Standard (4) Electronic Clearing Service
Last Answer : (4) Electronic Clearing Service Explanation: Electronic Clearing Service is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing ... tax, etc or for loan installments of financial institutions/banks or regular investments of persons.
Description : The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar ... . Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer
Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services
Description : Most of the independent auditor's work in formulating an opinion on financial statements consists of a. Studying and evaluating internal control b. Obtaining and examining evidential matter c. Examining cash transactions d. Comparing recorded accountability with assets
Last Answer : Obtaining and examining evidential matter
Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Description : In Electronic cash payment a. a debit card payment system is used b. a customer buys several electronic coins which are digitally signed by coin issuing bank c. a credit card payment system is used d. RSA cryptography is used in the transactions
Last Answer : b. a customer buys several electronic coins which are digitally signed by coin issuing bank
Description : What does ECS in banking transactions stand for ? (1) Excess Credit Supervisor (2) Extra Cash Status (3) Exchange Clearing Standard (4) lectronic Clearing Service
Last Answer : lectronic Clearing Service
Description : Implicit cost refers to (a) Value of inputs owned by the firm and used in its own manufacturing process (b) Value of input or services purchased from outside and used in its own manufacturing ... and sold to others ; (d) Value of inputs or services for which no payments were made to outside
Last Answer : (d) Value of inputs or services for which no payments were made to outside
Description : Barter transactions means - (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : (4) Goods are exchanged with goods. Explanation: Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, ... crisis, such as when the currency may be either unstable or simply unavailable for conducting commerce,
Description : Wholesaling is best defined as 1. all transactions in which products are bought for resale, for making other products, or for general business operations 2. all transactions made at retail ... 4. all marketing activities necessary to expedite exchanges to ultimate consumers 5. none of these
Last Answer : all transactions in which products are bought for resale, for making other products, or for general business operations
Description : On October 4, 2008, Terry Corporation had credit sales transactions of $2,800 from merchandise having cost $1,900. The entries to record the day's credit transactions include a a. debit of $2,800 to ... c. debit of $1,900 to Merchandise Inventory. d. credit of $1,900 to Cost of Goods Sold.
Last Answer : b. credit of $2,800 to Sales.
Description : Wholesaling is best defined as A)all transactions in which products are bought for resale, for making other products, or for general business operations. B)all transactions made at retail ... of other goods only. D)all marketing activities necessary to expedite exchanges to ultimate consumers.
Last Answer : A)all transactions in which products are bought for resale, for making other products, or for general business operations
Description : In case on sale of approval the ownership is transferred to the buyer when he a) adopts the transactions b)accept the goods c) fail to return goods d)in all the above cases
Last Answer : c) fail to return goods
Description : Advantages of B2C commerce to customers are (i)wide variety of goods can be accessed and comparative prices can be found (ii) shopping can be done at any time (iii)privacy of transactions can be guaranteed (iv) ... be guaranteed a. i and ii b. ii and iii c. iii and iv d. i and iv
Last Answer : a. i and ii
Description : By Electronic Commerce we mean: a. Commerce of electronic goods b. Commerce which depends on electronics c. Commerce which is based on the use of internet d. Commerce which is based on transactions using computers connected by telecommunication network
Last Answer : d. Commerce which is based on transactions using computers connected by telecommunication network
Description : Barter transactions means (1) Goods are exchanged with gold. (2) Coins are exchanged for goods. (3) Money acts as a medium of exchange. (4) Goods are exchanged with goods.
Last Answer : Goods are exchanged with goods.
Description : Gross national product (GNP) means the total value of __________ in a country. (A) Goods produced (B) Gold reserve (C) Earning of the citizens (D) Taxes paid
Last Answer : (A) Goods produced
Description : In case of valuation of firms for takeovers, which of the following provides a better estimate of value? a) Cash flows b) Free cash flows c) Future cash flows d) Free cash flow to equity
Last Answer : d) Free cash flow to equity
Description : Why do we have to an inheritance tax when the previous owners paid taxes on them when they purchased them?
Last Answer : Inheritance taxes and property taxes are entirely separate issues. Regardless of whether or not we agree with taxes you still have to abide by them. I personally don't agree with the scope of inheritance taxes, however the government considers an inheritance taxable income.
Description : Bryan Company purchased merchandise from Cates Company with freight terms of FOB shipping point. The freight costs will be paid by the a. seller. b. buyer. c. transportation company. d. buyer and the seller.
Last Answer : b. buyer.
Description : You happen to have purchased a house from the future. It accepts all kinds of voice commands. What are some of your commands?
Last Answer : “Make Bacon”
Description : I have a set of silverware that my grandmother purchased through Betty Crocker with points from products and cash. Does Betty Crocker still offer that program?
Last Answer : Oneida and Betty Crocker have not operated the COupon Catalog since the end of 2006, However you can still get replacement pieces from Replacements.com.
Description : A current asset is a. the last asset purchased by a business. b. an asset which is currently being used to produce a product or service. c. usually found as a separate classification in the income statement. d. an asset that a company expects to convert to cash or use up within one year.
Last Answer : d. an asset that a company expects to convert to cash or use up within one year.
Description : 1 Purchased goods from M/s. Jalna Traders, Delhi for ₹ 10,000 at 10% T.D.
Last Answer : Prepare Purchase Book and Sales Book, M/s. S.K. Traders dealer in ready-made garments, Mumbai. 2019 April ... CGST @ 9%, SGST @ 9% and IGST @ 18%.
Description : Advertising appropriations are largest for which type of product 1. industrial products 2. convenience goods 3. high-priced products 4. specialty goods 5. infrequently purchased goods
Last Answer : convenience goods