Description : Mr. X is a dealer in electronic goods (refrigerator, washing machine, air conditioners, televisions, etc.) He purchased two air conditioners and installed in his showroom. In the books of X the ... will be debited to A] Drawing account B] Capital Account C] Fixedassets D] Purchases account
Last Answer : C] Fixedassets
Description : If wages are paid for construction of business premises ______ A/c is credited and _____ A/c is debited. a) Wages, Cash b) Premises, Cash c) Cash, Wages d) Cash, Premises
Last Answer : d) Cash, Premises
Description : Wages paid for the installation of machinery wrongly debited to wages account is an error of ________
Last Answer : Wages paid for the installation of machinery wrongly debited to wages account is an error of ________ ... principle (c) commission (d) duplication
Description : Wages paid for installation of machinery is debited to __________ account.
Last Answer : Wages paid for installation of machinery is debited to __________ account. (a) Profit and Loss (b) Trading (c) Wages (d) Machinery
Description : Sales made to Mahesh for cash should be debited to________________ a) Cash account b) Mahesh Account c) Sales account d) Purchase account
Last Answer : a) Cash account
Description : (i) Software expenses paid for the installation of the computer should be debited to Software A/c.
Last Answer : Do you agree or disagree with the following statement: (i) Software expenses paid for the ... . (v) Return Inwards means purchase return.
Description : When liquidation expenses is paid and borne by seller company then it is debited to_____ (A) Bank A/c (B) Goodwill A/c (C) Realisation A/c (D) Capital Reserve A/c.
Last Answer : (C) Realisation A/c
Description : When liquidation expenses is paid and borne by seller company then it is debited to _______ (A) Bank A/c (B) Goodwill A/c (C) Realisation A/c (D) Capital Reserve A/c.
Description : When cheque is ________ into bank Cash Book is debited.
Last Answer : When cheque is ________ into bank Cash Book is debited. (a) written (b) issued (c) deposited (d) dishonoured
Description : When goods are sold for cash, the personal a/c of the buyer is debited.
Last Answer : State whether the following statement are ‘True or False’ with reason : When goods are sold for cash, the personal a/c of the buyer is debited.
Description : 2. The underwriting commission is payable in cash .
Last Answer : FALSE
Description : If the purchase hook is undermasted, the purchase account is debited in rectification.
Last Answer : State whether the following statement are True or False with reason : If the purchase hook ... , the purchase account is debited in rectification.
Description : Which account is debited, when goods are destroyed by fire?
Last Answer : Which account is debited, when goods are destroyed by fire?
Description : Carriage Inward is debited to ___________ Account.
Last Answer : Carriage Inward is debited to ___________ Account. (a) Trading A/c (b) Profit & Loss (c) Capital (d) Bank
Description : Which account will be debited when goods are sold to Ram on credit?
Last Answer : Which account will be debited when goods are sold to Ram on credit?
Description : The loss on the sale of old furniture is debited to– (A) profit & loss account (B) furniture account (C) trading account (D) depreciation account
Last Answer : Answer: profit & loss account
Description : Goods worth Rs. 2,000 were distributed to employees free of charge. The account to be debited is– (A) Profit and Loss A/c (B) Advertisement A/c (C) Labour Welfare A/c (D) Goods A/c
Last Answer : Answer: Profit and Loss A/c
Description : The goods taken by the proprietor from the shop is debited to– (A) Shop account (B) Goods account (C) Capital account (D) Drawings accounts
Last Answer : Answer: Drawings accounts
Description : What is the name of the card which can be used by the buyers during he time of purchase and in which the amount will be immediately debited from the buyers account? a. E-Distributor b. Debit Card c. Credit Card d. Power Card
Last Answer : b. Debit Card
Description : Under a perpetual inventory system, acquisition of merchandise is debited to the a. Merchandise Inventory account. b. Cost of Goods Sold account. c. Purchases account. d. Accounts Payable account.
Last Answer : a. Merchandise Inventory account.
Description : A Sales Returns and Allowances account is not debited if a customer a. returns defective merchandise. b. receives a credit for merchandise of inferior quality. c. utilizes a prompt payment incentive.
Last Answer : c. utilizes a prompt payment incentive.
Description : Under a perpetual inventory system, acquisition of merchandise for resale is debited to the a. Merchandise Inventory account. b. Purchases account. c. Supplies account. d. Cost of Goods Sold account.
Last Answer : d. Cost of Goods Sold account.
Description : In preparing closing entries a. each revenue account will be credited. b. each expense account will be credited. c. the retained earnings account will be debited if there is net income for the period. d. the dividends account will be debited.
Last Answer : b. each expense account will be credited.
Description : In order to close the dividends account, the a. income summary account should be debited. b. income summary account should be credited. c. retained earnings account should be credited. d. retained earnings account should be debited.
Last Answer : d. retained earnings account should be debited.
Description : In process costing, if an abnormal loss arises, the process account is generally (a) Debited with the scrap value of the abnormal loss units (b) Debited with the full production cost of the abnormal loss units (c) Credited with the scrap value of the abnormal loss units
Last Answer : (d) Credited with the full production cost of the abnormal loss units
Description : When purchasing company pays purchase consideration, it will be debited to (A)Business purchase account (B)Assets account (C) Liquidator of selling company’s account (D)None of the above
Last Answer : (C) Liquidator of selling company’s account
Description : The SCSS account transferred one Post office to another post office a) Rs 5/- per lac will be charged where the deposit is Rs 1 lac and above b) Rs 10/- per lac will be charged where the deposit is Rs 1 ... No fee will be charged d) Both the A and B( The fee will be paid by cash through pay in slip
Last Answer : d) Both the A and B( The fee will be paid by cash through pay in slip
Description : In what manner the fee for issue of duplicate pass book of savings account is paid by the depositor? a) By cash b) By crediting to UCR c) Postage stamp equa
Last Answer : c) Postage stamp equal to the value of the fee to be affixed on the application
Description : In what manner fee for getting the nomination cancelled in a Savings account is to be paid? a) In shape of cash b) By deposit to UCR c) In shape of stamp affixed on the application d) None of these
Last Answer : c) In shape of stamp affixed on the application
Description : Contents of BO bag sent by the BO to its account office must always contain BO daily count and it may contain a) Paid and unpaid MOs b) Paid postal order c) Cash bag with or without cash d) All the above
Last Answer : d) All the above
Description : Which of the following particulars should also be furnished on the reverse of the daily account. a) Details of remittances received and sent from or to HO or other SO b) Particulars of UCR , UCP, ... entered in remarks column d) All documents sent to along with the daily account e) All the above
Last Answer : e) All the above
Description : From the following schedule which one is not submitted to postal accounts on 1st and 16th of every month? a. Schedule of UCR b. Cash account c. Schedule of Bills Paid
Last Answer : b. Cash account
Description : Rent paid to landlord should be credited to a) Landlords account b) Rent account c)Cash account d) Expense account
Last Answer : c)Cash account
Description : The sum of twice the age of Ram and one-third the age of Shyam is 62 years. Express the statement as a linear equation in two variables. -Maths 9th
Last Answer : Let Ram's age be x and Shyam's age be y. Then, 2x+1/3y=62
Description : What is the meaning of Shyam Banani ?
Last Answer : Green forest means green forest.
Description : In an election only two candidates Ram and Shyam contested, Ram got `75%` of the total valid votes. `6%` of the polled votes were declared invalid. If
Last Answer : In an election only two candidates Ram and Shyam contested, Ram got `75%` of the total valid ... number of valid votes polled in favour of Shyam.
Description : Suggest a suitable subject for this letter. (i) Thefts are on the increase. (ii) Increasing threat of theft in Shyam Nagar. (iii) necessity of appointing day and night guards by the RWA. (iv) to call a meeting of the area residents.
Last Answer : Increasing threat of theft in Shyam Nagar Gurgaon
Description : Ram and Shyam started a business with investments of Rs.40000 and Rs.60000. At the end of one year, out of the total Ram got Rs.2000 less profit than Shyam. Find the total profit (in Rs.) a)12000 b)10000 c)8000 d)16000
Last Answer : b)10000
Description : Which of the following is a Real A/c? a) Building A/c b) Capital A/c c) Shyam A/c d) Rent A/c
Last Answer : a) Building A/
Description : Which of the following indicates evaluation? Options: A) Ram got 45 marks out of 200 B) Mohan got 38 percent marks in English C) Shyam got First Division in final examination D) All the above
Last Answer : D) All the above
Description : Which of the following indicates evaluation ? (A) Ram got 45 marks out of 200 (B) Mohan got 38 percent marks in English (C) Shyam got First Division in final examination (D) All the above
Last Answer : (D) All the above
Description : Who among the following was selected for Dadasaheb Phalke Award for 2005? (1) Aparna Sen (2) Govind Nihalani (3) M.S. Sathyu (4) Shyam Benegal
Last Answer : Shyam Benegal
Description : Shyam is younger than Sharuk by 22 years. If the ratio of their ages is 5:7, find the age of Shyam a) 55 b) 77 c) 66 d) 88
Last Answer : A If sharuk age is x, then Shyam age is x-22, so (x-22)/x = 5/7 => 7x-154 = 5x => 2x = 154 => x = 77 So shyam age is 77 - 22 = 55
Description : Shyam and Ram are active partners in a business. Shyam contributes 2/7th received capital of the profit for 21 month and Ram received 1/5th of the profit. Then how many long Ram invest the money in the business. a) 8months. b) 7months. c) 3months d) 1.5 months
Last Answer : Answer: D) Let total profit =P Ram’s profit =1/5 P Shyam profit =4/5 p Ratio of Shyam & Ram =4/5 p: 1/5 =4:1 Total amount put be X Shyam put =2/7*p for 21 months. Ram put =5/7 * p Ratio of Shyam & Ram =4:1=2/7 *p*21:5/7*p*T T= 1.5months = Ram amount investments time.
Description : Mr.Ashvin started the business with cash of ₹ 95,000.
Last Answer : Prepare a simple cash book from the following information: 2019 January 1 Mr. Ashvin started the business ... 4,980. 31 Deposited into bank ₹ 7,000.
Description : The profit on sale of an asset is debited to _________ A/c.
Last Answer : The profit on sale of an asset is debited to _________ A/c. (a) Profit and Loss (b) Reserve (c) Asset (d) Balance sheet
Description : Bank charges debited by Bank increase bank balance as per Pass Book.
Last Answer : State whether the following statement are True or False with reason : Bank charges debited by Bank increase bank balance as per Pass Book.
Description : (i) Purchase of Assets should be debited to purchase A/c.
Last Answer : Do you agree or disagree with the following statements : (i) Purchase of Assets should be debited ... NEFT, RTGS Transaction Cash A/c is affected.
Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio
Last Answer : Answer: Old profit sharing ratio
Description : When the underwriting commission becomes payable , the underwriter A/c is debited