Tag: accountancy

Questions Related to accountancy

Every report is collection of related information for a particular need and purpose and must meet the twin objectives of reporting.

  1. True

  2. False


Correct Option: A
Explanation:

A report is prepared with a definite objective. Every report is collection of related information for a particular need and purpose and must meet the twin objectives of reporting: one to reduce the level of uncertainty that is faced by a decision-maker; second to influence the behavior (or positive actions) of the decision-maker.

The record set of final SQL that relies upon preceding SQL statement, is collection of report-oriented information. 

  1. True

  2. False


Correct Option: A
Explanation:

The record set of final SQL that relies upon preceding SQL statement, is collection of report-oriented information. This record set need be embedded in the report being produced.

_________ are meant to create the SQL compatible query statement with or without the help of Graphic User Interface to define tables, store data and retrieve both data and information.

  1. Tables

  2. Queries

  3. Pages

  4. Reports


Correct Option: B

The object class meant to create data access pages, which can be posted on a website of an organisation using internet or sent via e-mail is called _________.

  1. forms

  2. tables

  3. reports

  4. pages


Correct Option: D

A positive net amount implies a _________ and _________ amount implies a credit.

  1. debit, positive

  2. debit, credit

  3. debit, negative

  4. credit, positive


Correct Option: C

__________ report design appears on the RHS of Database Window as object under reports.

  1. Balance sheet

  2. Trial balance

  3. Profit and loss

  4. Both a and c


Correct Option: B

Under Model-II, the sum of amount is to be multiplied by _____ to ensure that the amount of credit is always negative just as amount of debit is taken as positive.

  1. 1

  2. -2

  3. -1

  4. 3


Correct Option: C

Under Model-I, the sum of amount generated by sum (amount) is multiplied by ____ so that the final amount assigned to total field is always negative.

  1. 1

  2. -1

  3. -2

  4. 2


Correct Option: B

Every transacted amount that have been debited as well as credited appear _______ in record set.

  1. once

  2. twice

  3. thrice

  4. both a and c


Correct Option: B

When scrap is sold ________ account is credited.

  1. Asset A/c

  2. Bank A/c

  3. Scrap A/c

  4. None of the Above.


Correct Option: A
Explanation:

Scrap value is the estimated cost that a fixed asset can be sold for after providing in for full depreciation.  When an asset is purchased, asset account is debited as assets have debit balance. So when scrap is sold, asset account is credited with the amount received on sale.