Answer Posted / geetika

Gross profit is the difference between sales and cost of
goods sold. Thes cost can include manufacturing expenses,
raw material , labour etc.
Accounting is defined as "The art of recording,
classifying, and summarizing transactions and events in
terms of money and interpreting the results thereof.

Net Profit is the difference between Company Expenses and
Revenue and itis also known as net income and net earnings.

what is ment by suspence account and dummy account

1950

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Plant and machinery destroyed for 50000

1588

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Define the term material facts in accounting?

1171

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pls. tell me with detail (what is the rate of service tax and w.c.t. for a contractor who do civil work -make building and repairing. what is the format of generate a bill for (with material and labour both ) what entry should i pass in my accounts bokks. general and sales entry.

2144

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Tell me what is the general classification of accounts that usually ledger account involve?

1045

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HOW TO FILL PURCHASE RETURNS IN VAT 200,IF NOT PURCHASES THE PERIOD?

1945

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How many invoices on average do you handle on a weekly/monthly basis?

1177

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In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.

2171

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Do you know what is project implementation?

976

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Tell me did you use accounting applications at your previous companies or prefer working manually?

1008

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What is accounting chart of accounts?

1056

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Explain what is liabilities and what all does include in current liabilities?

1066

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Why is it necessary to prepare Asset Disposal Account?

1846

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In the Manufacturing IF QC reject the material. Then where to record rejected material amount.

1862

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Define executive accounting?

1138

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