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

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



 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

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