Description : Sundry Debtors – Rs.15,000 Bills Receivable (B/R) – Rs.12,500 Cash at Bank – Rs.17,500 Stock – Rs.15,000 Profit – Rs.20,000 Creditors – Rs.25,000 Bills Payable (B/P) – Rs.15,000 Sales – Rs.1,00,000 What is the Acid Test Ratio ? (A) 1•5 : 1 (B) 1•125 : 1 (C) 16 2/3% (D) 50%
Last Answer : Answer: 1•125 : 1
Description : Which of the following is not a cash inflow? a) Decrease in debtors b) Issue of shares c) Decrease in creditors d) Sale of fixed assets
Last Answer : c) Decrease in creditors
Description : Which of the following is not a cash inflow? A. Decrease in debtors B. Issue of shares C. Decrease in creditors D. Sale of fixed assets
Last Answer : C. Decrease in creditors
Description : Which of the following is not a cash outflow? A. Increase in Prepaid expenses B. Increase in debtors C. Increase in stock D. Increase in creditors
Last Answer : D. Increase in creditors
Description : The ratio which indicates how quickly debtors are converted into cash is--------- a) Receivable turnover ratio b) Inventory turnover ratio c) Working capital turnover ratio d) Creditors turnover ratio
Last Answer : a) Receivable turnover ratio
Description : (i) In the cash book of a trader Bank record the entries.
Last Answer : Do you agree or disagree with the following statements: (i) In the cash book of a trader Bank ... to deposit a cheque or cash into a bank account.
Description : 1 Pass opening entries: Debtors ₹ 20,000; Creditors ₹ 30,000; Computer ₹ 50,000 and Capital ₹ 40,000.
Last Answer : Journalise the following transactions in the Journal Proper of Mr. Mahadev. 1 Pass opening entries: ... Allowed cash discount of ₹ 1,000 to Ajay.
Description : Would have made it easier for debtors to pay their creditors?
Last Answer : Paper Money
Description : Which one of the following statements is correct ? When creditors' velocity or creditors' turnover is higher as compared to debtors' velocity, it would (A) improve liquidity (B) reduce liquidity (C) have no effect on liquidity (D) improve financial position
Last Answer : Answer: have no effect on liquidity
Description : Debenture holders of a company are its - (1) Shareholders (2) Creditors (3) Debtors (4) Directors
Last Answer : (2) Creditors Explanation: Companies issue debentures instead of shares to extend their business. These debentures are issue to borrow loan from general public; interest is paid on the borrowed money ... holders. So a debenture holder is essentially a creditor who simply gives loan to the company.
Description : Debenture holders of a company are its (1) Shareholders (2) Creditors (3) Debtors (4) Directors
Last Answer : Creditors
Description : Which of the following is wrong? (a) All real and personal accounts are transferred to balance sheet (b) Nominal accounts are transferred to P &L account (c) Each account is opened separately in ledger (d) Rent is a personal account, outstanding rent is nominal account
Last Answer : d) Rent is a personal account, outstanding rent is nominal accoun
Description : What are the other deposit accounts can be opened by an individual in where one holds „Basic Savings Bank Deposit Account‟? A. Fixed Deposit B. Recurring Deposit C. Another BSBDA D. Both A and B E. None of the Above
Last Answer : D. Both A and B Explanation: One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank where one holds ‗Basic Savings Bank Deposit Account.
Description : The Saving bank act 1873 does not apply to a) 5 Year RD accounts b) TD accounts c) Account opened through agents d) Sanchaya ka accounts
Last Answer : d) Sanchaya ka accounts
Description : (i) In the case of Public Company Limited by Shares or Guarantee, the last word should be __________
Last Answer : Complete the sentences : (i) In the case of Public Company Limited by Shares or Guarantee, the ... 9/10th of majority in favour is called __________
Description : (i) The single Entry System of Book-keeping is a scientific method of books of accounts.
Last Answer : Do you agree with the following statements? (i) The single Entry System of Book-keeping is ... Entry System follows the golden rules of accounts.
Description : Total sales is Rs. 7,60,000, cash sales Rs. 30,000 collection period is 25 days, debtors at Balance Sheet date will be– (A) Rs. 80,000 (B) Rs. 70,000 (C) Rs. 60,000 (D) Rs. 50,000
Last Answer : Answer: Rs. 50,000
Description : Identify which technique will not help a company to optimise its working capital cycle. A. Offering discounts for early payment by debtors B. Using cash management models to optimise the level of ... order quantity model to stock management E. Adopting the use of just-in-time stock management
Last Answer : B. Using cash management models to optimise the level of cash held
Description : 1 Started business with cash ₹ 30,000. 2 Opened a current account with the bank and deposited ₹ 9,000.
Last Answer : Enter the following transaction in a cash book with cash and bank columns for the month of April 2019 : ... from the bank for office use ₹ 1,000.
Description : Cash outflow on purchases is calculated by A. Purchases + Opening Creditors + Opening B/P – Closing Creditors - Closing B/P B. Purchases + Opening Creditors - Closing Creditors + Closing B/P C. Purchases - Opening Creditors - Opening B/P + Closing Creditors + Closing B/P D. None of the above
Last Answer : A. Purchases + Opening Creditors + Opening B/P – Closing Creditors - Closing B/P
Description : Which among the following is correct about "Hacking": a) Hacking is an illegal intrusion into a computer system and/or network. b) Cracking term is equivalent to Hacking (In Indian Laws perspective there is ... their own account followed by withdrawal of money. e) All of the Above f) None of These
Last Answer : e) All of the Above
Description : Mark correct option relating to worker wage accounts a) A single account may be opened by any of the registered adult of a house hold whose name is mentioned in the job card. b) A joint account can ... be opened under this category of account d) Only one account can be opened. e) All the above
Last Answer : d) Only one account can be opened.
Description : How many saving accounts can be opened by a guardian on behalf of a minor? a) Only one account can be opened on behalf of one minor by one guardian i.e either mother or father b) Only two account can be opened on behalf of one minor by both the father and mother c) No min limit d) None of these
Last Answer : a) Only one account can be opened on behalf of one minor by one guardian i.e either mother or father
Description : How many Single saving accounts may be opened by an adult in his own name in any one post office? a) Only one b) Only Two c) No such limit d) None of these
Last Answer : a) Only one
Description : The work of accounting depends upon ____________ (a) book-keeping (b) cash book (c) subsidiary books (d) ledger
Last Answer : The work of accounting depends upon ____________ (a) book-keeping (b) cash book (c) subsidiary books (d) ledger
Description : The reason for keeping excess cash should be recorded in ------------- a. HO Summary b. Treasure’s Cash Book c Cash Account
Last Answer : a. HO Summary
Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account
Last Answer : (A) Realisation Account
Description : As per AS-14 purchase consideration is payable to _________________. (A) Shareholders (B) Creditors (C) Debenture holders (D) Bank
Last Answer : Shareholders
Description : The rooster stands at the top of the roof. In which direction does the egg roll that is being laid?
Last Answer : In either direction because the rooster does not lay eggs
Description : What is it better for a bodybuilder to consume if he needs a protein-rich diet? chicken or turkey breast?
Last Answer : Roughly the same, maybe a little more turkey breast. When bodybuilding the goal is of course to eat without skin.
Description : (i) In ancient Indian history, Secretary was referred to as Secretarius.
Last Answer : State whether the following statements are True or False : (i) In ancient Indian history, ... company secretary is the oldest type of secretary.
Description : (i) In statement of profit or loss, profit on sale of assets are _________ to closing capital.
Last Answer : Fill in the Blanks : (i) In statement of profit or loss, profit on sale of assets are ... capital balance from __________ at the end of the year.
Description : (i) In barter transaction goods are exchange for ____________
Last Answer : Complete the following sentence : (i) In barter transaction goods are exchange for ____________ ( ... more than his assets is known as ___________
Description : Assertion (A) : In Britain, the formation of the nation-state was not the result of a sudden upheaval. Reasoning (R) : Ethnic groups of Britain
Last Answer : Two statements are given below as Assertion (A) and Reasoning (R). Read the statement and choose the most ... (A) is false but Reasoning (R) is true.
Description : Mark the correct option a) A literate person can account with cheque facility b) No minimum amount is required for opening of Workers wage account c) Saving account can be opened by cash only d) All the above
Last Answer : d) All the above
Description : Mark the correct option a) A pensioner of any central or state Govt whom dept of post has signed an agreement for disbursement of pension can open either single or joint with spouse account. b) ... from time to time as guardian when father and mother both are not alive d) All the above
Description : Can i cash a personal check in nevada at a bank other than the bank which the check is from if i dont have an account in eithir bank?
Last Answer : It's possible that you may not even be able to cash a check at the bank of origin. The only sure way to cash it is to take to a bank that you already, yourself, have an account with.
Description : Cash bag received in account office should be opened by a) Postmaster in presence of sub postmaster c) Treasure in presence of sub account assistant c) Either A or B d) Neither A nor B
Last Answer : c) Treasure in presence of sub account assistant
Description : Mark the correct option a) Maximum 12 deposit can be made in a financial year and more than one deposit can be made in one month b) Only one account can be opened in Post office or SBI or any ... from one PO to another and PO to State bank or nationalized bank vice versa. d) All the above
Description : A debt which is irrecoverable and is therefore written off as loss in the accounts of an institution or bank is known as __________ A. external debt B. good debt C. bad debt D. internal debt
Last Answer : C. bad debt Explanation: The term bad debts usually refers to accounts receivable (or trade accounts receivable) that will not be collected.
Description : The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by a) Cash only b) By crossed cheque c) By Credit into saving accounts d) Either B or C
Last Answer : d) Either B or C
Description : The work of book-keeping is of __________ nature.
Last Answer : The work of book-keeping is of __________ nature. (a) competitive (b) primary/basic (c) secondary (d) none of these
Description : In a perpetual inventory system, a return of defective merchandise by a cash customer is recorded by crediting a. Accounts Payable and Cash. b. Merchandise Inventory and Cost of Goods Sold c. Purchases Returns and Allowances and Merchandise Inventory. d. .Cash and Cost of Goods Sold.
Last Answer : d. .Cash and Cost of Goods Sold.
Description : A meeting of the shareholders held only once during the life time of the company is known as– (A) Meeting of the Directors (B) Meeting of the Creditors (C) Extraordinary General Meeting (D) Statutory Meeting
Last Answer : Answer: Statutory Meeting
Description : If I opened a personal AOL email on my work computer, and it possibly has a virus in it, would it affect my personal email account, or am I safe due to the work computer's virus protection?
Last Answer : According to this report, as long as you don’t click on the COMPLAINT REPORT link in the email and delete it, it probably won’t infect anything.
Description : Bank column in Cash Book represents Proprietor’s Savings A/c.
Last Answer : State whether the following statement are True or False with reason : Bank column in Cash Book represents Proprietor’s Savings A/c.
Description : Cheque deposited into Bank increases the Bank balance as per Cash Book.
Last Answer : State whether the following statement are True or False with reason : Cheque deposited into Bank increases the Bank balance as per Cash Book.
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 : (i) Excess of a total of debit side over a total of credit side of Cash Book, Bank column.
Last Answer : Give one word/term/phrase which can substitute each of the following statements: (i) Excess of a ... balance of the bank column of the Cash Book.