Description : (i) Debtors A/c (ii) Furniture & Fixtures A/c (iii) Purchases A/c
Last Answer : Classify the following accounts under the types of Personal, Real, and Nominal accounts : (i) Debtors A/c ... Bad Debts A/c (v) Dadar Library A/c
Description : (i) Wages A/c balance transferred to ____________ A/c.
Last Answer : Fill in the blanks : (i) Wages A/c balance transferred to ____________ A/c. (ii) Discount ... . (iv) Ledger is the ____________ book of Accounts.
Description : Land held for future use will be reported in the ____________ section of a classified balance sheet. a. Long-term assets. b. Long-term investments. c. Property, Plant and Equipment. d. Current assets..
Last Answer : b. Long-term investments.
Description : The contingent liability denominated in foreign currency at the balance sheet date is disclosed by using the ____________ rate.
Last Answer : Closing
Description : The illustration shows a fluorescent light fixture. The ends of the lamp alternately glow and become dark, but the tube will not light. The most probable cause is that ____________. EL-0081 ... start the lamp D. component 'B' contacts are opening and closing thus prohibiting sufficient current flow
Last Answer : Answer: C
Description : If the trial balance shows a short credit the suspense account will have a _______ balance.
Last Answer : If the trial balance shows a short credit the suspense account will have a _______ balance. (a) debit (b) zero (c) credit (d) nil
Description : Machinery A/c shows ___________ balance.
Last Answer : Machinery A/c shows ___________ balance. (a) Credit (b) Debit (c) Positive (d) Negative
Description : Real accounts generally shows ___________ balance.
Last Answer : Real accounts generally shows ___________ balance. (a) Debit (b) Credit (c) Negative (d) Nil
Description : Cash account always shows ________ balance.
Last Answer : Cash account always shows ________ balance. (a) Credit (b) Negative (c) Minus (d) Debit
Description : I had filed for bankruptcy 2yrs ago and it was dismissed. I have a zero balance on a auto loan that shows on my credit report. Do I still have to make my car payments?
Last Answer : If you reaffirmed your car loan during your bankruptcy, you agreed to continue making the payments. If you included your car in the bankruptcy, then the loan was wiped clean, as it appears to have ... the lawyer who handled your bankruptcy, but my guess is that your car slipped through the cracks.
Description : Which one shows the diagrammatic heat balance in a furnace? (A) Sankey diagram (B) Cox chart (C) Ostwald chart (D) None of these
Last Answer : (A) Sankey diagram
Description : A balance sheet for a chemical plant shows its financial condition at any given date. It does not contain the __________ of the plant. (A) Current asset (B) Current liability (C) Long term debt (D) Profit
Last Answer : D) Profit
Description : Rosy buys Oats at Rs.10/kg and sell it in order to earn a profit of 40%. However, her faulty balance shows 1000gm when it is actually 800gm. What is her actual gain percentage? a) 35% b) 70% c) 75% d) 25% e) None of the Above
Last Answer : Let price of 1 kg rice = Rs.10. CP of 800 gm rice = Rs.8. She wants to earn a profit of 40% on per Kg SP = 10 + 40% of 10 = Rs. 14 per kg. Faulty balance shows 800 gm = 1000 gm (1 kg) She sells 800 gm for Rs.14. Profit = 14 – 8 = Rs. 6. Profit(%) = 6/8 * 100 = 75%. Answer: c)
Description : All of the following statements about the post-closing trial balance are correct except it a. shows that the accounting equation is in balance. b. provides evidence that the journalizing and posting ... . c. contains only permanent accounts. d. proves that all transactions have been recorded.
Last Answer : d. proves that all transactions have been recorded.
Description : Kirti Co’s Balance Sheet shows Fixed Asset Rs. 3,60,000. At the time of absorption calculation of Net Assets is 10% less than the market value, then market value of such fixed assets is ............ (A) Rs. 3,24,000 (B) Rs. 4,00,000 (C) Rs. 4,20,000 (D) None of these
Last Answer : (B) Rs. 4,00,000
Description : The summarized balance sheet of Autolight Limited shows the balances of previous and current year of retained earnings Rs. 25,000 and Rs. 35,000. If dividend paid during the current year amounted to Rs. 5,000 then profit earned during ... (a) Rs. 5,000 (b) Rs. 55,000 (c) Rs. 15,000 (d) Rs. 65,000
Last Answer : (c) Rs. 15,000
Description : The summarized balance sheet of Rakesh udyog Limited shows the balances of previous and current year of provision for taxation Rs. 50,000 and Rs. 65,000. If taxed paid during the current year amounted to Rs. 70,000 then amount charge ... a) Rs. 55,000 (b) Rs. 85,000 (c) Rs. 45,000 (d) Rs. 1,85,000
Last Answer : (b) Rs. 85,000
Description : Selection of sample in this study is an important step in doing research. A good sample is: a. One that includes both male and female nurses b. One that shows a balance in the number of ... is representative of the population from which it was selected d. One that can be manipulated and controlled
Last Answer : c. One that is representative of the population from which it was selected
Description : Cash flow statement shows the causes for changes in__________ a) Cash balance b) Fund c) Working capital d) None of thes
Last Answer : b) Fund
Description : Kabi buys wheat at Rs. 15/kg and puts a price tag on it so as to earn a profit of 10%. However, his faulty balance shows 1000 gm when it is actually 900 gm. What is his actual gain percentage?
Last Answer : CP of 1000gm = Rs. 15 SP of 900gm = Rs. 16.5 SP of 1000gm =16.5x1000/900 = Rs. 18 Now take 1000gm as reference to calculate profit. Profit=SP-CP=18-15=Rs. 3 Profit % = 3x100/15 = 20%