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Asked/Added Questions From NCERT: Accountancy


Question 1. Asked on :12 August 2020:10:27:52 AM

 Write the rules for posting?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

 Rules for posting:

1. The name of the account in the journal and ledger should exactly be the same .

2. The account debited in journal will be debited in ledger and the account credited in ledger will be credited.

3. The word "To" will be added in the name of the accounts on the debit side and "By" will be added in the accounts on the credit side e.g., "To sales" , "By purchases" etc.

4. The page number of the jornal from where the entry is transferred is to be writeen in the Folio Column.

5. The date of transactions is to be written in the date column.

-Answered by nisha sheikh On 12 August 2020:10:29:14 AM


Question 2. Asked on :12 August 2020:10:23:38 AM

 What is ledger posting?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

 The process of transferring the information contained in a journal to a ledger is called posting.

-Answered by nisha sheikh On 12 August 2020:10:24:15 AM


Question 3. Asked on :12 August 2020:10:19:43 AM

 What do you mean by ledger? 

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

 A kledger may be deined as a " book or register which contains in a summarized and classified form, a permanent record of all transactions".

-Answered by nisha sheikh On 12 August 2020:10:21:04 AM


Question 4. Asked on :12 August 2020:10:15:05 AM

 Write the process o journalising?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

Process of journalising:

Step 1. Ascertain what accounts are affected  in the transaction .

Step 2 .Ascertain the nature of the account .

Step 3 . Apply the rules of debit and credit to each type of account.

Step 4 . Pass the entry.

-Answered by nisha sheikh On 12 August 2020:10:16:11 AM


Question 5. Asked on :12 August 2020:10:13:35 AM

 What is journal entry ?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

 An entry done in a journal is called journal entry.

-Answered by nisha sheikh On 12 August 2020:10:14:11 AM


Question 6. Asked on :12 August 2020:10:10:48 AM

 What do you meant by journalising?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

The process of recording a transaction in a journal is known as journalising.

-Answered by nisha sheikh On 12 August 2020:10:11:36 AM


Question 7. Asked on :12 August 2020:10:09:09 AM

 In which order transactions are recorded?

-Added by nisha sheikh Accountancy » Accounts

Answer:

nisha sheikh

 In Choronological order.

-Answered by nisha sheikh On 12 August 2020:10:10:18 AM


Question 8. Asked on :12 August 2020:09:57:50 AM

 Define journal?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

nisha sheikh

 A journal is a book of original entry / prime entry  wherein transactions are first recorded beore being posted to the ledger .

-Answered by nisha sheikh On 12 August 2020:10:01:30 AM


Question 9. Asked on :12 August 2020:09:52:23 AM

 Write the importance of cost of capital?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

Sehnaaz Sheikh

 1. Capital budgeting decision largely depends on the cost of capital of each source.

2. Cost of capital helps to take decision regarding capital sturcture. 

3. It helps to evaluate the financial perormance of the firm .


-Answered by Sehnaaz Sheikh On 12 August 2020:09:53:23 AM


Question 10. Asked on :12 August 2020:09:49:53 AM

 Write the full form of NOI?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

Sehnaaz Sheikh

Net Operating Income Approach. 

-Answered by Sehnaaz Sheikh On 12 August 2020:09:51:20 AM


Question 11. Asked on :12 August 2020:09:42:41 AM

 What is capital Rationing?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

Sehnaaz Sheikh

 Capital Rationing is the term usually coined to denote such a condition in which the business enterprises are not able to accept all the projects on account of external or internal fund constraints 

-Answered by Sehnaaz Sheikh On 12 August 2020:09:45:37 AM


Question 12. Asked on :12 August 2020:09:29:55 AM

 What are the objectives of financial management?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

Sehnaaz Sheikh

 There ar two alternative objectives a business firm can pursue:

1. Profit maximisation 

2. Wealth maximisation.

-Answered by Sehnaaz Sheikh On 12 August 2020:09:32:57 AM


Question 13. Asked on :12 August 2020:09:24:04 AM

 What do you mean by financial management?

-Added by Sehnaaz Sheikh Accountancy » Accounts

Answer:

Sehnaaz Sheikh

 Financial management is concerned with investment , financing and dividend decisions in relation to objectives of the company . financial management is concerned with the eficient procurement and utilization of the funds.

-Answered by Sehnaaz Sheikh On 12 August 2020:09:26:10 AM


Question 14. Asked on :21 August 2019:07:59:18 PM

 What do you mean by consistency assumptions ?

-Added by anjali thakur Accountancy » Consistency Assumption

Answer:

anjali thakur

 According to the Consistency Assumption accounting practice once selected and adopted should be applied consistency year after year . The concept helps in better understanding of accounting information and makes it comparable with that of previous years .

-Answered by anjali thakur On 21 August 2019:08:01:18 PM


Question 15. Asked on :21 August 2019:07:56:26 PM

 Write the  feature of accounting principles ?


-Added by anjali thakur Accountancy » Feature Of Accounting Principle

Answer:

Master Purushottam
Essential Features of Accounting Principles:
  • Relevance or Usefulness: ADVERTISEMENTS: A principle will be relevant only if it satisfies the needs of those who use it. ...
  • Objectivity: A principle will be said to be objective if it is based on facts and figures. ...
  • Feasibility: The accounting principles should be practicable.

-Answered by Master Purushottam On 22 August 2019:09:17:18 PM


Question 16. Asked on :21 August 2019:07:12:48 PM

 What is creditors?


-Added by anjali thakur Accountancy » CH2

Answer:

Master Purushottam

 Creditor is a person to whom an amount is owned an account of credit purchase of goods and service n the normal course of business.

-Answered by Master Purushottam On 21 August 2019:11:05:48 PM


Question 17. Asked on :21 August 2019:07:08:25 PM

 Define drawings with example ?

-Added by anjali thakur Accountancy » Ch 2

Answer:

Master Purushottam

 Drawing is the amount of money or value of goods which the proprietor or partner withdraws for personal use. for example, withdrawal of cash by the proprietor for personal use

-Answered by Master Purushottam On 21 August 2019:11:07:50 PM


Question 18. Asked on :20 August 2019:07:59:13 PM

 Give two advantages of a journal ?

-Added by anjali thakur Accountancy » Ch 8

Answer:

Akki chauhan

(i) As transactions in journal are entered as and when they take place the possibility of omission of a transaction in the book of accounts.

(ii) As transaction in journal are recorded in chronological order, it is very easy locate a particular transaction when required.  

-Answered by Akki chauhan On 21 August 2019:11:07:26 AM


Question 19. Asked on :20 August 2019:07:57:39 PM

 What is trade discount ?

-Added by anjali thakur Accountancy » Ch 8

Answer:

anjali thakur

 A discount on the retail price of something allowed or agreed between traders or to a retailer by a wholesaler .


-Answered by anjali thakur On 20 August 2019:08:26:34 PM


Question 20. Asked on :20 August 2019:07:56:17 PM

 What is mean by a journal ?

-Added by anjali thakur Accountancy » Ch 8

Answer:

nisha sheikh

 A journal is a record of financial transactions in order by date.

-Answered by nisha sheikh On 20 August 2019:08:27:33 PM


Question 21. Asked on :20 August 2019:07:35:15 PM

What do you mean by going concern assumption

-Added by anjali thakur Accountancy » Ch 3

Answer:

anjali thakur

 According to this assumption, it is assumed that business shall continue for a foreseeable period and there is no intention to close the business scale down its operation significantly .

-Answered by anjali thakur On 20 August 2019:07:42:46 PM


Question 22. Asked on :19 August 2019:03:19:36 PM

Name any one external user of Accounting information.

-Added by nisha sheikh Accountancy » Ch-1

Answer:

priyanshu kumar

 creditors.


-Answered by priyanshu kumar On 03 November 2019:03:24:33 PM


Question 23. Asked on :19 August 2019:03:17:41 PM

 Give two advantages of a Journal.

-Added by nisha sheikh Accountancy » Ch-8

Answer:

priyanshu kumar

 1 provides accounting data in chronological order .                           2 possibility of error reduces .


-Answered by priyanshu kumar On 03 November 2019:03:24:47 PM


Question 24. Asked on :06 May 2019:10:32:45 AM

 हथियाकरण से आप क्या समझते है ? 

-Added by priyanshu kumar Accountancy » हाशियाकरण की समझ

Answer:

sonu kumar

 समझती? पर इसका कारण रंग भेदी हथियाकरण है, समाज में जिसकी जड़े गहरी पैंसी. हुईं हैं। लेखिका को इस भोगे हुए यथार्थ का गहरा अभास था। जिसका प्रभाव ... क्या डॉ. सर्राफ स्वयं उन्हें सामाजिक रूप से. स्वीकार कर पायेगें? इन सभी बातों से दूर 'प्रभा खेतान' का भावविभोर हृदय केवल. डॉ. ... कड़वी-मीठी यादों के इर्द-गिर्द बुना गया आत्मचरित्र अपने आप में स्त्री जीवन की विशेष.

-Answered by sonu kumar On 06 May 2019:10:41:46 AM


 

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