SBI Clerk

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

Basics of Accounting


 1).  Total of sales book is  posted to —————–?. 
Answer  ::   Sales Account


 2).  When a customer returns the goods  a ——————- is  sent to him. ?
Answer  ::   Credit note


 3).  When the goods are sent to supplier a ——————- is  sent to him. ?
Answer  ::   Debit note



 4).  Credit purchase of stationary by a stationary dealer is to be recorded in ————.? 
Answer  ::   Purchase book


 5).  BRS is prepared by a —————–?. 
Answer  ::   Customer of Bank


 6).  BRS is statement showing the causes of differences —————-.?
Answer  ::   Between the cash book  and pass book

 7).  Installation charges of machinery purchased is ——————–?. 
Answer  ::   Capital expense


 8).  Expense incurred on trial run  of machine is ————–?. 
Answer  ::   Capital expense


 9).  Repair of second hand machinery before put to use is—————?.
Answer  ::   Capital expense


 10).  Annual maintenance fee of  machine is ————-.? 
Answer  ::   Revenue expense


 11).  Cost of ring & pistons of an engine changed to get better fuel efficiency is —————-.? 
Answer  ::   Capital expense


 12).  Interest on term  loan for purchase  of machinery where the commercial production has not begun till the  last day of Accounting year is ————.? 
Answer  ::   Capital expense



 13).  Premium received on issue  of shares is —————–?. 
Answer  ::   Capital receipts


 14).  Scrap value of machinery is ——————?. 
Answer  ::   Capital receipt


 15).  Insurance claim for machinery damaged by fire is  ——————.?
Answer  ::   Capital receipt


 16).  Cash received from  debtors is ———————–.? 
Answer  ::   Revenue receipt


 17).  Fine imposed is  ————————–.? 
Answer  ::   Revenue expenses


 18).  Purchase of goodwill  is —————–.?
Answer  ::   Capital expense


 19).  Import duty on purchase of  material is ————–.?
Answer  ::   Revenue expense


 20).  Loss on sale of machinery is ————–.? 
Answer  ::   Revenue loss

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Mallikarjuna

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