Description : Pre-received income is shown on ___________ side of Balance sheet.
Last Answer : Pre-received income is shown on ___________ side of Balance sheet. (a) Assets (b) Liabilities (c) Credit (d) Debit
Description : When the total of debit side of an account exceeds credit side, it is called __________ balance.
Last Answer : When the total of debit side of an account exceeds credit side, it is called __________ balance. (a) Debit (b) Credit (c) Nil (d) Real
Description : Discount earned is transferred to credit side of ___________ account.
Last Answer : Discount earned is transferred to credit side of ___________ account. (a) Current A/c (b) Profit & Loss Account (c) Trading (d) Capital
Description : (i) All indirect/operating expenses are transferred to _________ account.
Last Answer : Fill in the blanks : (i) All indirect/operating expenses are transferred to _________ account ... Balance Sheet is _________ of assets & liabilities.
Description : Drawing account is closed by transferring the balance to the _________ account.
Last Answer : Drawing account is closed by transferring the balance to the _________ account. (a) Drawing (b) Liabilities (c) Assets (d) Capital
Description : Pass Book is _________ of account holders transactions with bank.
Last Answer : Pass Book is _________ of account holders transactions with bank. (a) an extract (b) balance sheet (c) balance (d) mode
Description : Interest on bank overdraft is recorded on _________ side of Pass Book.
Last Answer : Interest on bank overdraft is recorded on _________ side of Pass Book. (a) debit (b) credit (c) any (d) both
Description : Bank charges charged by bank are recorded on _________ side of Pass Book.
Last Answer : Bank charges charged by bank are recorded on _________ side of Pass Book. (a) debit (b) credit (c) any (d) both
Description : [img] https:///wp-content/uploads/2016/01/teszt12.jpg [/ img] Yes. No.
Last Answer : 2 No .... I think :)
Description : Outstanding expenses are shown on the ___________ side of Balance Sheet.
Last Answer : Outstanding expenses are shown on the ___________ side of Balance Sheet. (a) Assets (b) Liability (c) Both (d) None of these
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 : When goods are sold on credit ___________ account is credited.
Last Answer : When goods are sold on credit ___________ account is credited. (a) Buyer’s A/c (b) Cash A/c (c) Sales A/c (d) Seller’s A/c
Description : Excess of debit total of an account over it’s credit total indicates _____________ balance.
Last Answer : Excess of debit total of an account over it’s credit total indicates _____________ balance. (a) Negative (b) Positive (c) Debit (d) Credit
Description : Some indirect effects of warming up of earth-
Last Answer : Identify the incorrect factor: Some indirect effects of warming up of earth- (a) Spread of ... of corals (d) Heavy reproduction of jellyfish
Description : ommon size Income Statement present the various items as a percentage of ---------------- a) Sales b) Credit sales c) Cash sales
Last Answer : a) Sales
Description : Which one of the following items is included in the national income account? (1) Services of housewives (2) Income of smugglers (3) Services of Sadhus (4) Services of night-watchmen
Last Answer : (4) Services of nightwatchmen Explanation: National income is the total value a country's final output of all new goods and services produced in one year. Services provided by housewives, ... smugglers and services of sadhus can be categorized as noneconomic services and thus cannot be accounted.
Description : Which one of the following items is not included in the current account of India's Balance of Payments? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments
Last Answer : (2) Non-monetary gold movements Explanation: Balance of payments (BoP) accounts are an accounting record of all monetary transactions between a country and the rest of the world. These ... factor income (earnings on foreign investments minus payments made to foreign investors) and cash transfers.
Description : Which one of the following items is not included in the current account of India’s Balance of Payments ? (1) Short-term commercial borrowings (2) Non-monetary gold movements (3) Investment income (4) Transfer payments
Last Answer : Non-monetary gold movements
Last Answer : Services of night-watchmen
Description : While preparing Cash Flow Statement, non-cash items and non-operating items are not required to be adjusted under________ A. Indirect method B. Direct method C. Both a and b D. None of the above
Last Answer : B. Direct method
Description : ales force structure in which a sales representative works to sell specific items of product line is classified as A. indirect sales force structure B. territorial sales force structure C. customer sales force structure D. product sales force structure
Last Answer : D. product sales force structure
Description : The target group for credit cards is _________ 1. All card Holders 2. All existing borrowers 3. Individuals, with taxable income 4. All of these 5. None of these
Last Answer : All of these
Description : Macro environment is also known as _________? A. direct environment . B. indirect environment. C. competitive environment. D. social environment.
Last Answer : B. indirect environment.
Description : Capital receipts under head “PGBP” shall be ………… a) Added to income b) Deducted from income c) Shall not take in to account d) Shown as separate line item
Last Answer : ICDS-3 is applicable for-
Description : Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c
Last Answer : B. liability side of the balance sheet
Description : Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases
Last Answer : (3) income of an economy grows on account of an initial investment Explanation: In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in ... of the U.S. money supply, and MO as a measure of the U.S. monetary base.
Description : The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above
Last Answer : d) All the above
Description : If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit ... . c. credit to the retained earnings account. d. credit to the owner's dividends account.
Last Answer : c. credit to the retained earnings account.
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
Description : Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases
Last Answer : income of an economy grows on account of an initial investment
Description : Which of the following is the highest income between direct and indirect taxes ?
Last Answer : Between direct and indirect taxes, more income is earned indirectly.
Description : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ 200 . Indirect Taxes = ₹ 420 , Subsidies =
Last Answer : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ ... A. 3380 B. 2, 980 C. 3020 D. 2, 620
Description : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` subsidies to get National income of the economy.
Last Answer : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` ... Divide C. Subtract , Add D. Subtract , Divide
Description : If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices , then it will be equal to :
Last Answer : If economic subsidies are added to and indirect taxes are subtracted from the national income at ... prices D. Gross domestic product at factor cost
Description : Personal disposable income is - (1) always equal to personal income (2) always more than personal income (3) equal to personal income minus indirect taxes (4) equal to personal income minus direct taxes
Last Answer : (4) equal to personal income minus direct taxes Explanation: Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal income, minus personal ... of personal (or, private) consumption expenditure) yields personal (or, private) savings.
Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.
Last Answer : (1) there is not direct relationship between the tax payer and the government. Explanation: The term indirect tax has more than one meaning. In the colloquial sense, an indirect tax (such as ... which is collected directly by government from the persons (legal or natural) on which it is imposed.
Description : Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes.
Last Answer : (3) equal to personal income minus direct taxes paid by household. Explanation: Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings
Description : Depreciation of machines fails under the indirect expenses head. As per income tax regulations, it is calculated by the __________ method. (A) Diminishing balance (B) Sinking fund (C) Multiple straight line (D) Sum of the years digit
Last Answer : (A) Diminishing balance
Description : If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment
Last Answer : (b) Net foreign factor income ;
Description : The difference between personal disposable income and personal income is (a) Indirect taxes ; (b) Subsidies ; (c) Transfer payments ; (d) Personal taxes.
Last Answer : ; (d) Personal taxes.
Description : The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies
Last Answer : (c) Net foreign income from abroad
Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.
Last Answer : (d) When subsidies exceeds indirect taxes.
Description : Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation
Last Answer : (a) NNP at market price – NDP at market price ;
Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents
Last Answer : ; (b) Indirect taxes ;
Description : Income tax is a…………………. A) Professional tax B) Direct tax C) Indirect tax D) Service tax
Last Answer : B) Direct tax
Last Answer : there is not direct relationship between the tax payer and the government.
Last Answer : equal to personal income minus direct taxes paid by household.
Description : All direct & indirect expenses related to business are charged: a)Profit and loss account b)Trading account c)Trading account Profit and Loss account d)Directly to Balance sheet
Last Answer : c)Trading account Profit and Loss account
Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet
Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet
Description : (i) First Board Meeting is held within _________ days of the date of its incorporation.
Last Answer : Select the correct answer from the options given below and rewrite the statements. (i) First Board ... Directors (b) Members (c) Creditors