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25 12, 2019

MCQs in Classes 11th & 12th Accountancy

These days the students as well as teachers are talking of 20 Marks MCQs. Actually, these are not necessarily Multiple Choice Questions but any type of Objective type questions (OTQs) .
22 12, 2019

Viva Questions for 12th Business Studies

These are sample questions for viva exam. of Business Studies. actual questions can take different form depending on the student, his work, examiners etc.
7 12, 2019

OTQs – Accounts from Incomplete Records

System of preparing Accounts from Incomplete Records can be adopted by small firms only. It is mainly suited to small business concerns with limited number of transactions and very few assets and liabilities.
24 11, 2019

OTQs – Rectification of Errors

An Error of Principle has been committed. Cartage was paid for a new machine and thus, should have been debited to Machinery Account and not Cartage Account.
24 11, 2019

OTQs – Depreciation and Provisions

Depreciation is fall in the book value of assets due to wear and tear or obsolescence. It is written off in a systematic manner over its estimated useful life.
24 11, 2019

OTQs – Bills of Exchange

Drawee will not record the entry for discounting the bill because it is an asset of the Drawer or the Payee.
24 11, 2019

OTQs – Final Accounts of Sole Proprietor

The amount received on account of insurance claim is a capital receipt because it has been received against damage of machinery in a fire.
24 11, 2019

OTQs – Ledger, Trial Balance and BRS

It is the most important book of account, since the Trial Balance is drawn from it and from the Trial Balance, financial statements are prepared. Hence, Ledger is called Principal Book of account.
24 11, 2019

OTQs – Recording of Transactions

This article contains all questions on Rules of Double Entry, Journal and its types.
24 11, 2019

OTQs – Theory Base of Accounting

The principle of revenue realisation states that revenue is recognised when the revenue is earned by the completion of earning process, also when the risks and rewards being exchanged.
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