(English Medium) ICSE Class 10 - CISCE Question Bank Solutions for Commercial Applications

There is excessive consumption of both renewable and non-renewable resources to ______. 

Distinguish between Renewable and Non-renewable resources. 

What consist of indirect material, indirect labour, and indirect expenses?

Overhead refers to ______.

In element-wise classification of overheads, which one of the following is not included in?

Which of the following is best suited meaning of overhead?

With the help of examples, explain how consumption can be reduced by using the 5 R's.

What is indirect labor cost?

What are indirect expenses?

Give an example of indirect expenses.

What do you mean by office and administrative overhead?

Explain the following:

Material Cost

How can ethical environmental consciousness can be developed?

It is a summary of all incomes and expenses of the current accounting year. It is prepared to know the surplus or deficit during the accounting year.

The closing balance of this Account shows surplus or deficit for the year.

This account is equivalent to the Profit and Loss Account of a business concern.

It serves as the basis for preparing the Balance Sheet of a non-trading organisation.

It contains only revenue items.

If the total of ______ side is greater than the total of ______ side, it is called ‘surplus’ or ‘excess of income over expenditure’.

On the other hand, if the total of ______ side is greater than the total of ______ side, it is known as 'deficit' or 'excess of expenditure over income'.