Explain in short, any three functions of the Central Bank.
Concept: Central Bank: Functions
The result of the trading account is the ______ and it is transferred to the Profit and Loss account.
Concept: Final Accounts of Sole Proprietorship
Use the following Trial Balance to complete the Final Accounts of Ms K. Pant for the year ending March 31, 2021.
TRIAL BALANCE
| Particulars | Dr. | Cr. |
| Capital | 3,78,000 | |
| Drawings | 40,000 | |
| Plant and Machinery | 1,60,000 | |
| Creditors | 1,00,000 | |
| Debtors | 1,40,000 | |
| Purchases | 2,75,000 | |
| Purchase returns | 14,000 | |
| Sales | 4,40,000 | |
| Sales Returns | 20,000 | |
| Cash in Hand | 30,000 | |
| Wages | 80,000 | |
| Repairs | 16,000 | |
| Salaries | 60,000 | |
| Opening Stock | 45,000 | |
| Rent | 24,000 | |
| Bills Receivable | 24,000 | |
| Bills Payable | 40,000 | |
| Bad Debts | 10,000 | |
| Carriage Inwards | 18,000 | |
| Furniture | 30,000 | |
| 9,72,000 | 9,72,000 |
Closing Stock was valued at Rs. 1,00,000.
Trading Account of Ms K.Pant for the year ending March 31, 2021
| Dr. | Cr. | ||
| Particulars | Amount | Particulars | Amount |
| To Purchases 2,75,000 | By Sales 4,40,000 | ||
|
(i) (-) ______ |
2,61,000 | (-) Sales Return 20,000 | 42,0000 |
| To Wages | 80,000 | By Closing Stock | 1,00,000 |
| To Opening Stock | 45,000 | ||
| (ii) ______ | (ii) ______ | ||
| To Gross Profit transferred to Profit and Loss Account | (iii) ______ | ||
| 5,20,000 | 5,20,000 |
Profit and Loss Account of Ms K. Pant for the year ending March 31, 2021
| Dr. | Cr. | ||
| Particulars | Amount | Particulars | Amount |
| To Salaries | 60,000 | By Gross Profit | (iii) ______ |
| To Repairs | 16,000 | ||
| To Rent | 24,000 | ||
| To Bad Debts | 10,000 | ||
| To Net Profit transferred to Balance Sheet | (iv) ______ | ||
| 1,16,000 | 1,16,000 |
Balance Sheet of Ms K.Pant as of March 31, 2021
| Liabilities | Amount | Assets | Amount |
| (v) ______ | Plant and machinery | 1,60,000 | |
| (-) Drawing 40,000 | Debtors | 1,40,000 | |
| (+) Net Profit (iv) ______ | 3,44,000 | Cash in Hand | 30,000 |
| Creditors | 1,00,000 | Bills Receivable | 24,000 |
| Bills Payable | 40,000 | Furniture | 30,000 |
| (vi) ______ | (vi) ______ | ||
| 4,84,000 | 4,84,000 |
Concept: Final Accounts of Sole Proprietorship
The ______ budget contains an estimate of the total volume of production week wise, month wise and product-wise.
Concept: Budgeting
______ market consists of all organizations, institutions and instruments that provide long term funds.
Concept: Capital Market
The capital of the company is divided into equal parts called ______
Concept: Sources of Raising Capital
______ shares do not carry voting rights.
Concept: Sources of Raising Capital
Write a short note on:
Cash Credit
Concept: Sources of Raising Capital
Write a Short note on:
Discounting of bills of exchange
Concept: Sources of Raising Capital
The ______ selection tests seek to measure a candidate’s capacity to learn particular skills and test his potential abilities.
Concept: Types of Selection Tests
______ is a positive process that creates a pool of candidates.
Concept: Recruitment
Explain Application Blank as a step in the selection process.
Concept: Introduction to Flow of Control > Selection
What is External recruitment?
Concept: Sources of Recruitment
Explain Employment Exchanges and Recommendations as sources of external recruitment.
Concept: Sources of Recruitment
Explain Placement Agencies as sources of External Recruitment.
Concept: Sources of Recruitment
Explain any three steps of the Selection process.
Concept: Introduction to Flow of Control > Selection
State any two Disadvantages of Internal Recruitment.
Concept: Advantages and Disadvantages of Recruitment
