Answer Posted / jubeda

THERE ARE THREE GOLDEN PRINCIPLES OF ACCOUNTING
PERSONAL A/C - DEBIT THE RECEIVER
CREDIT THE GIVER
EG: NAME OF A COMPANY/FIRM/PERSON/ETC.

REAL A/C - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
EG: EXPENSES/ASSETS/CASH/ETC.

NOMINAL A/C - DEBIT ALL EXPENSES/LOSSES
CREDIT ALL INCOMES/GAINS

EG: EXPENSES/INCOMES/INTEREST/COMMISSION/SALARY/ETC.

Define dual aspect term in accounting?

1128

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What does the word credit mean in terms of accounting?

1222

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what is the difference between cash book(cash coloumn) and cash book(bank coloumn)?

2162

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What knowledge should financial accountant have?

1185

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what is subscription order

2091

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Tell me how can you define departmental accounting?

994

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What are the 4 types of ppe?

1271

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As an importer of goods through letter of credit, (payment is done through indian bank to foreign back), my question is who is liable to pay with holding tax when the payment is remitted to foreign bank, whether the buyer(importer) or the seller and why?

1960

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for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?

3483

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What are time sheets?

1135

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what is penaultimate sale

2130

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In the case of stock transfer from one branch to another branch any reverse credit is applicable.

2094

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Explain the Realisation concept and Accounting concept? why do you prepare p/l appropriation account? 4 difference b/w public and private caompany? How do you calculated closing stock in tradind a/c? Contents an invoice receipt? classification of Error as per accounting? Diff btwn Satutory audit & Internal audit? Diff b/w reserves for bad debts and provision for bad debts? Where the Bank book and the Cash book will not reconcile? When will the Cash book have a credit balance?

2856

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Define depreciation and its types?

1166

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Do you know in accounting, vat abbreviates what?

1167

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