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Second Year Theory Subject

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● Subject Name: Drug Store and Business Management
● Faculty Name: Ms. Jadhav S.R.

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Corrected
Sr. No. Question Option 2 Option 3 Option 4

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answer

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1. Trade and Industry

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Business means Industry and Trade and Buying and Commerce

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1 Commerce Commerce selling of goods

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Business is concerned with Economic event Non-economic Social service Financial
event service

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2

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Transport removes the hindrance of Place Persons Time Money

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3
Banking remove the hindrance of Finance Time Place Risk

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4

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Warehousing removes the hindrance of
ld Time Risk Finance Place
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5
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Insurance remove the hindrance of Risk Spoilage Place Persons

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6
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Trade between the countries is known as Foreign trade Import Export Regional trade
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To bring goods from another country is Import Export Transport Entreport

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8 one’s own country is known as

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Buying and selling of goods so as to make True False

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9 profit is known as trade is true or false

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Characteristic of business activity which Commerce Business Economics Trade

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is deals with distribution of goods &
10

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services produced by industry called
as........................

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2. Forms of business organization

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Sole proprietorship also known as One man Partnership Joint stock Private
11 Business business Company company

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Karta in Joint Hindu Family Business Senior most Senior most Junior most Capable

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12 male member of female member of male member of member
the family the family the family Of the family

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The business organization run as Firm Company Joint stock Private
13 partnership is called as
ld company company
or
Minor partner is the partner below the age 18 16 20 21
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14 of
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Joint stock company act is govern by Company act Government act Private company Public company
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15 1956 1956 act 1956 act 1956

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Co-operative organization is --------of Voluntary Involuntary Members Specific

16 persons who are financial
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Sleeping partner is also known as Inactive partner Active partner Nominal partner Working
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partner
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Government company held at least ---- 51 50 90 40
18 percent of its capital held by government

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3. Channels of distribution

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Wholesaler Manufacturer Producer
19 Retailer is and a direct link with Consumer

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Wholesaler acts as a link between Retailer and Retailer And Retailer,
Producer and

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20 manufacture retailer producer and
manufacturer
manufacture

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Merchant
Heavy machinery is sold to the consumer Functional

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21 Direct selling Indirect selling middlemen
by middlemen

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On instalment Both cash and

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22 In mail order goods are sold on On cash basis On credit basis

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basis credit basis
Moving from Street corner
23 Itinerant retailers sell the goods from Fix premises Street walls

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place to place

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Different types
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Specified same
Same types of of goods All types of
24 Multiple shops deals with type of goods
or
good according to goods
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their own choice

Are the agent who obtain neither the Commission
25 Broker Retailer Auctioneers
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position nor the ownership agent

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Commission
26 Agent sale the goods on behalf of seller Broker Auctioneers Wholesaler
agent
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Agent sale goods on behalf of their Broker Commission Carry forward

27 Auctioneers
principals by auction agent agent
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4. Drug house management

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Significant Insignificant Immaterial Insignificant
28 Selection of site for a drug store is a--
decision decision factor factor

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Retailed drug store can be started with a

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29 90-100sq.ft 150sq.ft 200sqft. 70-80sqft
minimum area of-----------

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Obstructs the Creates parking

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A drugs store opened near traffic light or As a health Leads to
30 customers to problem for the
road circle…………..

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hazard accident
visit the shop customers

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With limited
If a large

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financial
Opening a drug store in a big city is With only a number of
31

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possible huge investment employees are
available

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Resources
The minimum area are required to open

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32 10sqmetre 15sq.Metre 20sq.metre 30sq.metre
wholsale drug store is-------------

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Which application form is required for sell
33 stock or exhibi t schedule C & C1 Retaile Form no21 Form no22 Form no 20 Form no 23

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drugs

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Which application form is required for
34 sellstockorexhibitschedulec&C1 Wholsale
ld Form no21b Form no 22a Formno20a Form no 23b
or
drugs
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35 Contracts are also called as Purchase order Buyer order Supplier order Material order
First incidence
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36 FIFO means First in First out

first out
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The qualification for starting a retail sale

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drug store should be D. Pharmacy

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Registered from
37 Matriculate 10+2
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pharmacist unrecognised
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institute
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It also called as Invoice book and is used Purchase day Purchase return Sale return book Sale journal
38 for recording purchase of goods on book book

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credit--------------

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5. Inventory ontrol

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ABC technique in inventory control Always Better Always best Always big Always better

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39 means ontrol control concern concern

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In ABC inventory control techniques A Costly, 10 % Less costly ,10 % Cheap ,70% Cheap ,10%
40 items are ------- and covers ------ of total

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inventories.

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VED analysis in inventory control involes Vital items, Vital items Only Essential items Desirable
Essential item only Items only

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41 and Desirable

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items
V.E.D analysis useful for? Spare parts Raw material Finished goods Food items

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42

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In V.E.D analysis 'D' stands for? Dessirable items Data of receipt of Deviation of Daily desired
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items stock items

43 Answer
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EOQ means Economic Effective order Emergency E-order

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44 order quantity quantity order quantity quantity

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Legitimate scrap is a scarp which is Anticipated in Administrative Defective scrap Advance srcap
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45 advance
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According to perpetual inventory system
Data card
the record is following types except: Physical stock

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46 Bin card Stores ledger
verification

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The level which is below the Minimum

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Danger level
Stock Level is called---. Maximum

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47 Safety level Re-order Level
stock level

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6. Sale promation

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------Helps to improve management Marketing Advertisements Salesmanship Newspapers
decision making by providing research

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48 relevant,accurate and timely information.

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Which techniques are used for sales Coupons Fair and Trading stamp Cash
promotion: except Exhibition

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Given the following are the media of ld Trade Television Radio Newspaper
or
advertisements except associations
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_____________________ Is irregular in Sale promotion Trade promotion Discount Media planning

51
nature. coupon
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A small amount of product is offered to the Sample Coupon Rebate Gift

52 customer for trial is called
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A certificate that gives buyer a kind of Coupon Price pack Premium Rebate/cash
53 saving when they purchase any specified refund offer

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item is called

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Which concept supplements the work of Sales promotion Cooperative Trade promotion Dealer
54

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middlemen? advertising promotion

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55 --------- Are the life blood of business Sales Promotipn Finance Capital

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A person who is engaged in selling goods Salesman Pharmacist Retailer Wholesaler

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56
to the customers is known as

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News paper is the example of Press Literature External Miscellaneous
57 advertisement advertisement advertisement advertisement

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Sky writing is the example of Outdoor Indoor Oral Miscellaneous

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58 advertisement advertisement Advertisement advertisement

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Wmdow display plays an important role Sale promotion Customer Easy Time saving
59

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in satisfaction identification

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7. Recruitment ,Training,Evaluation and ompensation to Pharmacist
Board of Directors which frame the ld Top Level Middle Level Lower level Bottom level
or
qualities of enterprise involved in which management management management management
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level of managent?
60
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Given the following statements are related Selections T involves the Calling large Selections is a
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to the selection are true except: includes sorting series of steps by pool of negative
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of the which the candidates. process

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application and candidates are
final selection. screened

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After which step of selection process Reference check Employment test Final interview Preliminary

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physical and medical examinations are interview
62 taken.

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______First step in selection process. Scrutiny Employment test Application Preliminary
63 applications blank interview

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Given the following are the off_the_job Coaching & Conferences Role playing Case studies
ttraning method except: counseling

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64

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Given the following are the sure of Newspapers Publications International
secondary data except:
ld agencies
or
International
65
Agencies
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---------server as a link between the Board Ceo Deputy manger Branch manger Hod
of Directors and the remaining parts of the
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66 organisation.
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Given the following are the function of Eliminating Planning Staffing Controlling
management except:

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Given the following included in low level

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Asst.manger
management except:

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68 Clerk Superintendent Supervisor

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Given the following are included in top
level management except: Managing

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69 Directors Hod Vice chanceller
director

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8 . Banking and Finance

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It is the systematic classification, Financial Financial Trial balance Transaction

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comparison and examination of the facts analysis statement
and figures as disclosed in the statements

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61 to have full knowledge regarding

of
profitability and financial position of
company called as --------------- ld
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The Year That begins from Ist of january Calendar year--- Financial year Leap year Accounting
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and ends on 31st of December,is -- year

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Following are tangible assets except: Goodwill Goods Building Machinery

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Amount spent in order to produce and sell Expence Sale Revenue Income
the goods and services is called------.

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Overdraft facility means Draw a cheque Credit facility Withdrawal of Drafting of

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even if no cash cash
65 balance in

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account

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Idbi means Industrial Indian Identity India

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66 development development development development

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bank of india bank of india bank of india bank of india

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67 Medium term finance valid upto 3to 10 years 3 to 5 years Above 10 years Below 3 years

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Land development bank is also known as Land Mortgage Land Purchase Land selling Land service
68 bank bank Bank bank

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9 . Introduction to Accounting
ld Make
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What is the important object of accounting?
Depict the information
Exept To maintain the To maintain
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69 financial available to
record of service records
position various group
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& user
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Prepared
Profit and loss
70 Financial accounting is required to financial Budget Balance sheet
.

account
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statements
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71 Management accounting helps to Management Worker Employees Government

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------- Depicts the financial position of Profit and loss

72 Balance sheet Budget Ledger
enterprises account
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10 . Accounting Concepts and Conventions

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Recording -----
Recording-----

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Given the following which one is the >classifying ---- Recording ----- Recording-------
>interpeting----

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correct step of accounting: ->summarizing-- >summarizing---- ->interpreting---
73 ->classiflying--
-->interpreting >interpreting--- -->classifying---

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--
>classifying -->summarizing

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:>summarizing

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Following are the internal user of

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Goverment
accounting except:
74 Management Employees Owners

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11 . Recording of the Transaction

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Three column One column Two column Multiple

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Triple / Three column cash book contain- column

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----------------
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For every debit, there must be a ld Double entry Single entry Balance sheet Ledger
or
corresponding credit of equal amount system stystem
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76 and for every credit, there must be a

corresponding debit of equal amount is
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the principle of ----

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Real account
"Debit what comes in & credit " what goes Personal
.

77 Nominal account Joint account

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out is the rule of which account. account

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The journal is the book of ----- First entry

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78 Second entry Original entry External entry

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Following are the other day books except:
Simple cash Sales return
79 Purchase book Sales book

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book book

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A cash book which maintained generally in

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large business concerns to reduce the

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Single column
80 burden of the main cash book is called-----. Petty cash book Purchase book Pass book

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cash Book

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The column of ledger which links the entry
J.F column
with journal is -------. Particulars Specific

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81 L.f column
column column

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Posting on the credit side of an account is

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written as
82 By To Being For

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Impersonal A/c

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83 Nominal Account is classified under Personal A/c Real account Capital account

ld
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Capital account is classified under Personal A/c
Nominal
84 Real A/c Nominal A/c
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account
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12. Trail balance

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It is the statement prepared to check the Trial balance. Financial Budget Ledger
arithmetical accuracy of the book- statement
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85 keeping entries up to the date started at

the head of ------------
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Method of preparation of Trial Balance Balance Analysis method Trial method Plus method
86 is----- method .

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After the preparation of ledgers, the next
Trial balance

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step is the preparation of Profit and Loss
87 Cash book Loss account

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Account

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Trial Balance is prepared on:

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End of the year For the period Starting of the
88 A particular date
ending year

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Account

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Trial balance is a:
89 Ledger Summary Statement

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13. Financial statements

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It helps the management to detect the Ratio analysis Financial analysis Solvency ratio Financial

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90 weakness and strength of the firm--------- statement
-------
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Objectives of financial statements is to The nature and The nature and The nature and Neither The
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know----- extent of the extent of the extent of the nature and

91 assets.and liabilities. assets extent of the
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liabilities assets nor

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liability
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The two statements prepared at the end Financial Final account Transaction Trial balance
be

of the accounting period of the enterprise statement

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viz. The balance sheet and profit and loss

account calle as---------------
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Statement
93 Balance sheet is a Account Ledger Journal

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Capital is a Liability

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94 Liability Income Profit

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A written document in support of a
Voucher

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transaction is called-----
95 Receipt Credit note Journal

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-------Indicates the state of affairs of the

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organization in terms of its assets and Balance sheet
96 liabilities. Journal Ledger Account

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14.Introduction to budgeting

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It is written plan covering projected Budget Financial Trial balance Transaction

of
activities of the firm for definite period of statement.
97 time which include planning, ld
or
coordinating and controlling the
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operation known as --------------

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Following are the types of budget according Production

98 Current budget Sale budget Master budget
to the function except budget
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---Budget prepared for a short period Short term

.

99 Current budget Sale budget Fixed budget

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,generally a month or a quarter. bugdet

Budgets which are preparation for a long
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Long term
100 period, generally for 5 to 10 years is called Short term bugdet Fixed budget Current budget
budget
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Gross profit or
Net profit or loss
loss Financial

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101 Trading account is prepared to find out Loss account
position

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102 Net profit is added to Capital Gross profit Drawings Assets

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Indirect

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Wages is an example of
expenses

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103 Direct expenses Capital expenses Extra expenses

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