List of practice Questions

Differentiate between wholesale trader and sole trader.
Write the difficulties of commercial banks.
Describe expenditure and saving.
Below is given the Trial Balance of Shri Ghanashyam Das & Brothers in respect of the year ending 31st March, 2022. Prepare Trading and Profit & Loss Account for the year 2022 and his Balance Sheet as on that date:
Following adjustments are necessary:
(a) Closing stock on 31st March, 2022 was Rs. 12,000.
(b) Interest @6.5% p.a. on capital.
(c) Outstanding salary was Rs. 800.
(d) Insurance prepaid Rs. 150.
(e) Depreciation to be done on building at 2% \& on machinery 10%. Provision for Doubtful debt on debtors 5%, commission earned but not received Rs. 200.
What is meant by Final Account? Why is Balance Sheet included in final accounts?
What do you understand by crossing of cheque? Write the types of it.
Coins are issued by
Final Account is/an
How many parties are there in promissory note?
What do you understand by contingent liabilities?
In how many ways is a bill of exchange accepted?
What are the normal banking functions performed by Reserve Bank of India?
Write the characteristics of sole trading.
Among the following which one comes under the class of indigenous banker?
What is Bank?
Utility is generally related to
Which one of the following is the basis of diminishing marginal utility?
We should keep our Savings with banks because it
Bank pays interest on
Which machine prints addresses on envelopes, wrappers, newspapers etc.?
Which of the following is not a form of Large Scale Trade?
What shall be the due date to issue invoice in case of supply of goods?
Clearing house in India, is administered by
Reserve Bank of India is
Reason for conversion of Imperial Bank into State Bank was