Recent questions and answers in Accountancy

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A business organized as a separate legal entity is a

answered Feb 25 in Accountancy by Haren (166k points)

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Which of the following is not one of the three forms of business organization?

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Which of the following would not be considered an internal user of accounting data for the Xanadu Company?

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The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n)

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The right to receive money in the future is called a(n)

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The cost of assets consumed or services used is also known as

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The best definition of assets is the

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Dividends are reported on the

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Which of the following is an asset?

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To show how successfully your business performed during a period of time, you would report its revenues and expenses in the which financial statement?

answered Feb 25 in Accountancy by Haren (166k points)

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The expense recognition (matching) principle, as applied to bad debts, requires:

answered Feb 25 in Accountancy by Haren (166k points)

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Ratnakar started business with capital of ₹ 2,50,000 on 1st July, 2020. During the year ended March 31, 2021

answered Jan 29 in Accountancy by Haren (166k points)

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Ranjan started business with capital of ₹ 3,50,000 on 1st April,2020. During the year ended March 31, 2021

answered Jan 29 in Accountancy by Haren (166k points)

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Alok owed ₹ 20,000 towards Manish and accepted a bill after getting 10% discount on 15th September, 2021 for 3 months.

answered Jan 29 in Accountancy by Haren (166k points)

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Differentiate between Statement of Affairs and Balance Sheet.

answered Jan 29 in Accountancy by Haren (166k points)

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What is meant by accounts from incomplete records? Briefly explain any 4 features of incomplete records.

answered Jan 29 in Accountancy by Haren (166k points)

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Briefly explain the following term :-(i) Payee (ii) Days of grace

answered Jan 27 in Accountancy by Haren (166k points)

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Briefly explain the following terms : (i) Drawer (ii) Drawee

answered Jan 27 in Accountancy by Haren (166k points)

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From the following details provided by Kumud Ltd., prepare Comparative Statement of Profit & Loss for the year ended 31st March 2021:

answered Jan 20 in Accountancy by Haren (166k points)

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State whether the following transactions will result in inflow, outflow or no flow of cash while preparing cash flow statement: (i) Decrease in outstanding employees benefits by ₹3000

answered Jan 20 in Accountancy by Haren (166k points)

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