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