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42. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on Credit. J.J. fabrics issued a Credit note for the value of these goods. In simkins’ books, the double entry for this transaction should be. a) Debit : J.J. Fabrics; Credit purchases b) Debit : purchases; credit J.J. Fabrics c) Debit : J.J. Fabrics; credit purchase returns d) Debit: purchases returns; credit J.J Fabrics. amazon   2  2332
40. If revenue was $70,000, expenses were $59,000, and the owner’s withdrawals were $25,000, the amount of net income or net loss was: a) net income of $11,000 b) Net income of $36,000 c) Net loss of $59,000 d) Net income of $70,000 capmark   3  3170
18. If the real gross domestic product of US has increased, but the production of goods remained the same, then the production of services has; a) Increases b) Decreases c) Remained same d) Would vary capital-iq   5  6402
16. Eurodollars are best described as =============== a) The new currency of the European Union b) A U.S dollar denominated deposit ….generally in a bank located outside the United States …that is not subject to US banking regulation. c) A currency deposited outside its country of origin d) A foreign..denominated deposit subject to US banking regulations wipro   5  8043
15. Which statement about ADRs is true? a) An ADR is the receipt for the shares of a foreign based corporation held in U.S bank b) ADRs do not trade on U.S exchange c) ADRs give non U.S investors a way to buy non US company shares in the US market. d) The holder of an ADR is entitled to only the dividends for the security factset   4  4726
13. The firm has 20,000 common shares authorized, 15,000 shares outstanding, and 3,000 shares of treasury stock. How much common equity shares are issued. a) 2,000 b) 5,000 c) 17,000 d) 18,000 factset   8  7290
11. EOQ is the order quantity that========== over our planning horizon a) Minimizes total ordering costs b) Minimizes total carrying costs c) Minimizes total inventory costs d) The required safety stock factset   8  5460
3. In reviewing Corporate equity on a balance sheet, what effect be included in the description “Total Capital Stock” a) Par value of preferred b) Par value of common c) Paid in Capital excess of par value d) Both (a) and (b) factset   2  2536
2. Contingent liabilities should be recorded in the books when; a) It is probable that the future events will occur b) The amount of the liability can be reasonable estimated. c) Both (a) and (b) d) Either (a) or (b) factset   2  2291
1. A firm buys stock for $100 by cheque and intends to sell it for $200, so the double entry should be a) Debit bank $100 and credit stock $ 100 b) Credit bank $ 200 and debit stock $ 200 c) Debit purchases $100 and credit sales $ 200 d) Debit purchases $ 100 and credit bank $ 100 factset   2  3330
can a company libale to pay provident fund on employee's overtime ?    2  2333
What are the Types of invoices batching? & what is 3 way batch? wipro   0  428
How the sub ledgers(AP, AR) integrate with GL liability and receivable    0  332
I am going for interview in Cross domain for Finance & Accounts opening. If any one having any question paper or question that might be asked in interview pls send me on my mail id, or here.    0  3670
A company is Listing in EU (Europian Union) Controlled stock exchange ? will IFRS are mandatory ? if you answer will differ if Subsidary of US based company Listing in EU (Europian Union) Controlled stock exchange?    0  244
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Un-Answered Questions
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How to Calculate PF with interest or without interest. 1573
those who finished +2 accounts groups please give me +1 and +2 accounts books if any one have please mail me i need it urgent please help me 321
3.In TALLY,we used to call tally erp that,in sap we used to call SAP ECC what is ECC?,i know the abbreviation of ECC.i want to know the role of ECC? 356
In financial management why we calculate the cost of debt, (cost of capital) while rate of interest is given. 303
What Is The Limitation Of Remuneration Allowed If Book Profit Is 375850 In A Business Firm And In A Professional Firm? 312
Tell me about how you have left a position better than you found it 278
what is balancesheet adjustment a/c. what is the use of this a/c in sap fico 620
wages posted twice what is the entry for that? 609
what is different b/w current a/c and savings a/c? 379
can anyone provide me the Balance Sheet Items & P & L Items with Accounting Heads with Accounting codes? 407
Short answer on Amalgamation 309
what is mba tell me the more benefits in mba 398
hi, what type of questions are asked in capital iq interview .plz let me know. thanks... venkat... 674
Explain why retained earnings have an opportunity cost associated? 1010
what is participation right is it a debt? or not? 328
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