Month: November 2017

What are non-trading concerns

Concerns or organization may be classified as: Profit making or Trading Concerns Non-trading concerns or Non-profit making organizations Profit making organizations: Profit making organizations deal in buying and selling merchandise with the expectation of earning profit. Examples of trading or profit making organizations are commercial banks, insurance companies, textile mills etc. Non-trading concerns or non-profit …

What are non-trading concerns Read More »

Differences between trading and non-trading concerns

The main points of difference between trading and non-trading concerns may be summarized as follows: Objective: Trading Concerns: The main objective of these concerns is to earn profit. Non-trading Concerns: The main objective of these concerns is to provide goods and services that fulfill a social need. Source of Income: Trading Concerns: The main sources of income …

Differences between trading and non-trading concerns Read More »

Difference between receipt and payment account and income and expenditure account

The main points of difference between receipt and payment account and Income and expenditure account may be described as under: Nature: Receipt and payment account: It is a summary of cash transactions. Income and expenditure account: It is another name of income and expenses summary as adopted in non-trading concern. Commencement Receipt and payment account: It …

Difference between receipt and payment account and income and expenditure account Read More »

Preparation of income and expenditure account from receipt and payment account

If the points of difference between receipt and payment account and income and expenditure account have been understood, it should be a simple matter to convert a receipt and payment account into an income and expenditure account. As a general guide, the following steps should be carefully followed to convert the receipt and payment account to …

Preparation of income and expenditure account from receipt and payment account Read More »

Non-trading concern

Take a quick Multiple Choice Questions (MCQs) test about Non-trading concerns. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start Non-trading Concerns MCQs quiz. If you find difficulty in answering these questions, read ‘Non-trading Concerns‘ chapter thoroughly from the explanation section of the …

Non-trading concern Read More »

What are Bad Debts?

Bad debt is an amount owed to a business, which it considers, or proves to be, irrecoverable. There are several reasons why a debtor may fail to pay an amount due from him, e.g. death, bankruptcy, insanity, etc. Once a business is convinced that an amount due from a debtor is no more recoverable, it …

What are Bad Debts? Read More »

Dissolution of partnership – MCQS

Take a quick Multiple Choice Questions (MCQs) test about Dissolution of partnership. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start Dissolution of partnership MCQs quiz. If you find difficulty in answering these questions, read ‘Dissolution of partnership‘ chapter thoroughly from explanation …

Dissolution of partnership – MCQS Read More »

Retirement and death of a partner – MCQS

Take a quick Multiple Choice Questions (MCQs) test about Retirement and death of a partner. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start retirement and death of a partner MCQs quiz. If you find difficulty in answering these questions, read ‘Retirement and death …

Retirement and death of a partner – MCQS Read More »

Financial statements – MCQs

Take a quick Multiple Choice Questions (MCQs) test about Financial Statements. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start financial statements MCQs quiz. If you find difficulty in answering these questions, read ‘Financial Statements‘ chapter thoroughly from explanation section of the website. …

Financial statements – MCQs Read More »

Dividend and bonus -MCQs

Take a quick Multiple Choice Questions (MCQs) test about Dividend and bonus. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start dividend and bonus MCQs quiz. You can also check: Dividend and bonus short questions Dividend and bonus fill in the blanks

Formation and organization – MCQs

Take a quick Multiple Choice Questions (MCQs) test about Formation and Organization. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start formation and organization MCQs quiz. You can also check: Formation and organization short questions Formation and organization fill in the blanks

Issuance of shares and debenture – MCQs

Take a quick Multiple Choice Questions (MCQs) test about Issuance of shares and debenture. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start issuance of shares and debenture MCQs quiz. If you find difficulty in answering these questions, read ‘Issuance of shares and …

Issuance of shares and debenture – MCQs Read More »

Scroll to Top