Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

Accounting General Interview Questions
Questions Answers Views Company eMail

At the time of death of a partner, firm gets ________ from the insurance company against the Joint Life Policy taken jointly for all the partners. (a) Policy Amount. (b) Surrender Value. (c) Policy Value for the dead partner and Surrender Value for the rest. (d) Surrender Value for all the partners.

2305

Profit or loss on revaluation is shared among the partners in _______ ratio. (a) Old Profit Sharing. (b) New Profit Sharing. (c) Capital. (d) Equal.

3 10400

Interest on capital will be paid to the partners if provided for in the agreement but only from________ (a) Profits. (b) Reserves. (c) Accumulated Profits. (d) Goodwill.

1 3598

The owner of the consignment stock is________ (a) Consignor (b) Consignee (c) Debtors (d) None

4 7619

The parties to joint venture is called_________ (a) Co-venturers (b) Partners (c) Principal & Agent (d) Friends

1 4388

The purpose of accommodation bill is_______ (a) To finance actual purchase or sale of goods (b) To facilitate trade transmission (c) When both parties are in need of funds (d) None of the above

Infosys,

1 5057

The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________ (a) Unit life (b) Useful life (c) Production life (d) Expected life

1 6746

Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

2034

M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances

1853

If Cost of goods sold is Rs.80,700, Opening stock Rs.5,800 and Closing stock Rs.6,000. Then the amount of purchase will be (a) Rs.80,500 (b) Rs.74,900 (c) Rs.74,700 (d) Rs.80,900.

Infosys,

4 17533

Original cost = Rs 1,26,000. Salvage value = 6,000. Useful Life = 6 years. Annual depreciation under SLM will be (a) Rs.21,000 (b) Rs.20,000 (c) Rs.15,000 (d) Rs.14,000

3 9503

A new firm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs. 1,20,000. What is the gross profit earned by the firm? (a) Rs. 36,000 (b) Rs. 30,000 (c) Rs. 42,000 (d) Rs. 38,000

IMT, Wipro,

2 12292

A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500

2710

X of Kolkata sends out goods costing 300,000 to Y of Mumbai at cost + 25%. Consignor’s expenses Rs 5000. 1/10th of the goods were lost in transit. Insurance claim received Rs 3000. The net loss on account of abnormal loss is (a) Rs.27,500 (b) Rs.25,500 (c) Rs.30.500 (d) Rs.27,000

2 7381

X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800

1 3579


Post New Accounting General Questions

Un-Answered Questions { Accounting General }

What knowledge should financial accountant have?

1123


What is the difference of cost accounting and financial accounting?

994


Productive Investment is Working Capital. Is it correct?

1675


Mention in simple terms what is the difference between asset, equity, and liabilities?

993


What is the difference between depreciation and amortization?

1099


What is the entry for provision?

1063


i need clarification about tds will be calculate before deductions or after deductions on gross salary+incentive

1473


input vat, wht use in wct

2114


What is the provision?

1119


Why does the accounting equation have to balance?

1028


What is process of Vendor Reconciliation and which items will be Add and Less from ad per customer books likes step by step 1-Credit Note shown in vendor a/c but not booked in our a/c- Add or Less 2-Debit Note not shown in vendor a/c but booked in our a/c - Add or Less 3-Invoices not booked in our a/c but shown in vendor a/c- Add or Less 4-Payment booked in our books but not shown vendor- Add or Less If our balance is plus or minus rules is same. like 20000, (-20000) Sir, Provide your mobile n for clarify

1725


What does the word credit mean in terms of accounting?

1158


'Talk me through an example of how you have used data to improve your teams productivity.'

2518


What GP resew of balance sheet taking.

2175


Tell us in balance sheet, where do you show tds?

1035