Tag: commercial applications

Questions Related to commercial applications

Who among the following defined management as "The accomplishment of results through the efforts of other people"?

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. George Terry

  2. Lawrance Appley

  3. L.D. White

  4. Allen

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Correct Option: C

The characteristic feature of imprest system is ___________________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Fixed amount of cash is allocated to petty cash fund

  2. Cash distributed from petty cash fund is documented with receipts

  3. Both a&b

  4. Petty cash disbursement receipts are everyday replenishments of the petty cash fund

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Correct Option: C

Global depository receipts (GDRs) are issued by successful corporations with a view to attract ___________________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Overseas loan funds

  2. Remittances from NRIs

  3. Foreign equity capital

  4. Foreign direct investment

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Correct Option: C

Accrued income refers to that income which has been _______________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. received but not earned during the current accounting period

  2. earned but not received during the current accounting period

  3. earned but not earned during the previous accounting period

  4. received and earned during the current accounting period

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Correct Option: B

Materiality in accounting is decided __________________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. By the size of an item

  2. By the knowledge as to whether an individual item is having a significant influence on financial statement

  3. Solely by the discretion of the accountant

  4. By the physical volume of the transaction

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Correct Option: B

Whenever a company wants to alter its Memorandum of Association for changing the place of registered office from one state to another, it has to pass _________________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Ordinary resolution

  2. Special resolution

  3. Resolution requiring special notice

  4. Unanimous resolution

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Correct Option: B

It SA/cs is done and by mistake A's account is transferred to Purchase No in such a case which accounts are affected? 

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Purchase a/c

  2. A's a/c

  3. Both (a) and (b)

  4. None of the above.

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Correct Option: C

Bank balance as per cash book of ABC Enterprises as on 31st March, 2013 is f 1,500. Cheques deposited with bank but not cleared amount to f 100 and cheques issued but not presented for payment amount to f 150. The bank allowed interest amounting to Rs.50 and collected dividend Rs.50 on behalf of ABC Enterprises. Balance as per pass book should be ____________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Rs. 1,600

  2. Rs. 1,850

  3. Rs. 1,450

  4. Rs. 1,650

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Correct Option: D

Consignee sends to consignor ________________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. Proforma Invoice

  2. Sales Account

  3. Account Sales

  4. Invoice

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Correct Option: C

No person can act as a managing  director of more than ____________.

commercial applications bases of accounting cash and mercantile system basis of accounting basis of accounting system

  1. One company at a time

  2. Two companies at a time

  3. Three companies at a time

  4. Five companies at a time

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Correct Option: B