Interest credited in Pass Book is an income to the customer.

Interest credited in Pass Book is an income to the customer.
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State whether the following statement are True or False with reason : Interest credited in Pass Book is an income to the customer.
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In his book general theory of employment, interest and money, what was keynes credited with?

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In case of failed ATM transactions, if the amount is not credited to customer‟s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs.________ per day. A. 150 B. 200 C. 100 D. 10 E. 50

Description : In case of failed ATM transactions, if the amount is not credited to customer‟s account within 7 working days from the date of receipt of the complaint. Banks have to pay compensation at the rate of Rs.________ per day. A. 150 B. 200 C. 100 D. 10 E. 50

Last Answer : C. 100 Explanation: Reconciliation of failed transactions at ATMs – For any failure to re-credit the customer‘s account within 7 working days from the date of receipt of the complaint, the bank will pay compensation of Rs.100/-, per day, to the aggrieved customer.

Interest on Drawing is credited to ___________ Account. 

Description : Interest on Drawing is credited to ___________ Account. 

Last Answer : Interest on Drawing is credited to ___________ Account. (a) Trading (b) Profit & Loss Account (c) Capital (d) All

In preparing closing entries for a merchandising company, the Income Summary account will be credited for the balance of a. sales. b. merchandise inventory. c. sales discounts. d. freight-out.

Description : In preparing closing entries for a merchandising company, the Income Summary account will be credited for the balance of a. sales. b. merchandise inventory. c. sales discounts. d. freight-out.

Last Answer : b. merchandise inventory.

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.

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.

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.

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.

Provision for Income Tax is _____ A. Debited to P & L Appropriation A/c B. Debited to Profit and Loss A/c C. Debited to Treading A/c D. Credited to P & L Appropriation a/c

Description : Provision for Income Tax is _____ A. Debited to P & L Appropriation A/c B. Debited to Profit and Loss A/c C. Debited to Treading A/c D. Credited to P & L Appropriation a/c

Last Answer : B. Debited to Profit and Loss A/c

Direct deposit by a customer will be recorded on __________ side of Pass Book. 

Description : Direct deposit by a customer will be recorded on __________ side of Pass Book. 

Last Answer : Direct deposit by a customer will be recorded on __________ side of Pass Book. (a) debit (b) credit (c) left hand (d) any

Interest on bank overdraft is recorded on _________ side of Pass Book. 

Description : Interest on bank overdraft is recorded on _________ side of Pass Book. 

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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

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

Which of the following would not fit the description of a related-party transaction? a. An unusually large sale of merchandise to the company's best and largest customer. b. Sales of merchandise between a parent company and its subsidiary. c. Exchanges of equipment between two companies owned by the same person. d. Loans to corporate officers at market rates of interest with a regular repayment schedule.

Description : Which of the following would not fit the description of a related-party transaction? a. An unusually large sale of merchandise to the company's best and largest customer. b. Sales of merchandise ... person. d. Loans to corporate officers at market rates of interest with a regular repayment schedule.

Last Answer : An unusually large sale of merchandise to the company's best and largest customer.

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Last Answer : c. A user showing a continuous interest in the matter

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Last Answer : C. Users who show a long term interest in a topic

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Description : Tom is trying to close a major sale with a customer who is a trout fishing enthusiast. Tom starts reading fishing catalogues and going to sports goods shops to learn as much as he can about fly ... be best classified as _________ involvement. A)low B)high C)enduring D)situational E)perceived

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Mark the correct option a) Minor cannot appoint a messenger for making withdrawal from SB account b) At the time of making a withdrawal by cheque from saving account not necessary to provide pass bookc) The amount annual interest added in a saving account may not be treated as transaction in that accountd) All the above

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One difference between auditors and other professionals is that most professionals a. Need not be concerned about remaining independent. b. Do not have requirements for continuing education beyond college. c. Do not have to pass a rigorousexamination.d. Are not expected to act in public interest

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How can clock/and watch be credited to saving lives, saving livelihood, etc.?

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Description : Shishunaga dynasty is credited to have destroyed which mahajanpada ? -Do You Know?

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Which Tomar ruler is credited to have established Delhi? -General Knowledge

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Who said the success of American soldiers during World War 1 was largely credited to his leadership and he returned to the US a true hero?

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If I rent furniture for a period of time and then decide to buy it, will the money I have already paid be credited to the furniture's cost?

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XYZ Ltd. issued 10,000 shares of Rs. 100 each at Rs. 120 per share with Rs. 25 on application, Rs. 45 on allotment including premium, Rs. 20 on first call and Rs. 30 on final call. Govind who held 200 shares did not pay any call money and his shares were forfeited. What is the amount to be credited to Share Forfeiture Account on forfeiture ? (A) Rs. 14,000 (B) Rs. 10,000 (C) Rs. 9,000 (D) Rs. 4,000

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Last Answer : Answer: Rs. 10,000

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Which of the following percentage of foreign exchange earnings can be credited to the EEFC account? A. 80% B. 90% C. 75% D. 95% E. 100%

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