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Ask The Experts What are IITs? The Indian Institutes of Technology (collectively the IITs) are institutes of national excellence. At the moment, there are 7 IITs in Mumbai, Kanpur, Delhi, Kharagpur...
|Time allowed : 3 hours||Maximum Marks : 60|
Give the definition of 'Balance Sheet'.
What is 'Sectional Balancing System' ?
Explain briefly two objects of providing for depreciation.
What is 'Cash Budget' ?
What is meant by 'Average Due Date' ?
Explain briefly two points of difference between 'Income and Expenditure Account' and 'Receipts and Payments Account'.
What do you mean by 'Non-profit organisation' ? Give any two examples of Non-profit organisations.
State three advantages of the system of 'self-balancing ledgers'.
What is an 'Account Current' ? Name two parties between whom Account Current is exchanged.
From the following items calculate value of Closing stock on 31-12-2003 :
1-1-2003, Opening stock Rs. 40,000
Goods bought during the year 2003 Rs. 60,000
Goods sold during the year 2003, Sale price Rs. 40,000, Cost Rs. 30,000