An accounting period is a period of time such as the 12 months of January 1 through December 31, or the month of June, or the three months of July 1 through September 30. It is the period for which financial statements are prepared. For example, the income statement and the cash flow statement report the amounts occurring during the accounting period, and the balance sheet reports the amounts of assets and liabilties as of the final moment of the accounting period.
Described the several fields of accounting?
What is liability account?
A man buys Rs. 20 shares paying 9% dividend. The man wants to have an interest of 12% on his money. The market value of each share is A. Rs. 12 B. Rs. 15 C. Rs. 18 D. Rs. 21
The banker's discount of a certain sum of money is Rs. 72 and the true discount on the same sum for the same time is Rs. 60. The sum due is A. Rs. 360 B. Rs. 432 C. Rs. 540 D. Rs. 1080
In order to obtain an income of Rs. 650 from 10% stock at Rs. 96, one must make an investment of A. Rs. 3100 B. Rs. 6240 C. Rs. 6500 D. Rs. 9600
The certain worth of a certain sum due sometime hence is Rs. 1600 and the true discount is Rs. 160. The banker's gain is A. Rs. 20 B. Rs. 24 C. Rs. 16 D. Rs. 12
The banker's gain on a bill due 1 year hence at 12% per annum is Rs. 6. The true discount is A. Rs. 72 B. Rs. 36 C. Rs. 54 D. Rs. 50
The present worth of a certain bill due sometime hence is Rs. 800 and the true discount is Rs. 36. The banker's discount is A. Rs. 37 B. Rs. 37.62 C. Rs. 34.38 D. Rs. 38.98
The true discount on a bill of Rs. 540 is Rs. 90. The banker's discount is A. Rs. 60 B. Rs. 108 C. Rs. 110 D. Rs. 112
The banker's discount on a certain sum due 2 years hence is 11/10 of the true discount. The rate percent is A. 11% B. 10% C. 5% D. 5.5%
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