Basics of Accounting Bit Bank for APPSC | Panchayat Secretary | IBPS | SBI

Basics of Accounting Bit Bank

 1). ————— is same like deprecation.?
Answer :: Amortization

 2). For depreciating leases the suitable method is ———.?
Answer :: Annuity method

 3). Trading Account is prepared to ascertain —————-.?
Answer :: Gross Profit

 4). P/L Account is closed by transferring its balance to———.?
Answer :: Capital Account

 5). P/L Account shows the ————————– for an Accounting period.?
Answer :: Financial performance

 6). Balance sheet shows the ————— at a particular date?.
Answer :: Financial position

 7). Wages and salaries appearing in trail balance are shown on the————-.?
Answer :: Debit side of treading Account

 8). Outstanding wages appearing in trail balance is shown on the ————-.?
Answer :: Liabilities side of balance sheet

 9). Prepaid insurance appearing in trail balance is shown on the ————?.
Answer :: Assets side of Balance Sheet

 10). Closing stock appearing in trail balance is shown on the —————.?
Answer :: Assets side of Balance Sheet

 11). Capital work in progress is ————–.?
Answer :: Tangible asset

 12). Drawings are——————?.
Answer :: Deducted from capital

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 13). The debit balance in the P/L Account is a————-?.
Answer :: Loss

 14). The value of human resources is generally not shown in balance sheet as per —————–?.
Answer :: Money measurement concept

 15). Accrued income is shown as a —————-.?
Answer :: Current asset

 16). Un accrued income is shown as a ——————.?
Answer :: Current liability

 17). A promissory note is an ————— to pay.?
Answer :: Unconditional promise

 18). In case of Promissory note, there are ————–.?
Answer :: 2 parties

 19). A bill of exchange is an —————- to pay?.
Answer :: Unconditional order

 20). In case of bill of exchange there are ————?.
Answer :: 3 parties