Question { Infosys, 17645 }

what is net profit?

Answer

Net Profit claculate total Expanse -(minus)total Revenue

Question { 27483 }

what is format of Trial balance

Answer

Date of period

Particulars Debit Credit

Question { Bhel, 14960 }

what is the meaning of double entry system & Double entry
system?

Answer

Every Transation recognised in two Acconts One is Debit and
other is Credit it is Most important concept in accounts
its will shows the arthametical accuracy

Question { Capital IQ, 24970 }

what is accrual income ?

Answer

Amount earned in the current accounting period, but which
will be received in a subsequent period.

Question { A1 Technology, 31188 }

What is the trial balance

Answer

Trialbalance Is Arthametical accuracy of the Books.
its Most Important for preparation for finalisation of
Accounts
balance sheet will prepare from trialbalce

Question { Banking, 242505 }

what is the meaning of preliminary expenses and how you
shown in balance sheet

Answer

preliminary expenses are the expenses which accure at the
time of starting of the business as registration fees.
basically it is amortize as per decided time by the company
and at the time when the expense accure it will treate as
current asset.and written off every year from the profits of
the business.
Ex:- 18000/- expenses for Incorporation Fee
Preliminary Expenses A/c (Under Group Misc Expenses (Asset)
Preliminary Expenses Written off A/c (Under Group Indirect
Expenses)
18000/5=3600
1)Payment Entry
Preliminary Expenses A/c Dr 18000
To Cash/Bank A/c 18000/-

2)Journal Entry
Preliminary Expenses Written off A/c Dr 3600/-
TO Preliminary Expenses A/c 3600/-


Preliminary Expenses Written Off A/c 3600/- will reflect on
Profit& Loss A/c (Indirect Expenses Side)
Preliminary Expenses a/c 14400 will reflect on Balance Sheet
(Asset Side)

Question { State Bank Of India SBI, 20858 }

what is balance sheet?

Answer

Balance Sheet shows the Financial Position of the
Company/firm

Question { Mellon, 9743 }

What is capital market?

Answer

Current Assets Minus Current Liabilities (Current Assest-
Currents liabilities)

Question { HGS, 112881 }

what is mean by credit purchase?

Answer

credit purhase is a purchase No need to Pay at the time of
Purchase but liable to be paid in future. the person to
whom we are liable is called creditor
Ex: Payment through cheques also Credit purchase

Absorve in the Bills there are two optins Cash/Credit
Purchase by cash its cash purchase
Purchase by Cheque its credit Purchase
We not paying cash at time of Purchase

Question { Capital IQ, 18199 }

what is Book Keeping

Answer

a company/firms/business's Day to Day transaction will be
recorded in systamatic way there are two methos ie single
method and double entry
present we are using double entry method

Question { Accenture, 15021 }

Expand E M I

Answer

EMI Equated Monthly Installment. We Paying The Every Month
Constant payment against Loan including Intrest