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varkuti sridhar reddy


{ City } hyderabad
< Country > india
* Profession * accounts officer
User No # 39081
Total Questions Posted # 0
Total Answers Posted # 6

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Answers / { varkuti sridhar reddy }

Question { Deloitte, 19996 }

what is the quick asset


Answer

Quick asset is also called as liquid asset.

The Asset which is convertable into cash in short period
means less then one year is called Liquid Assets.

Example:All the current Assets Except Stock and prepaid
epenses.

Is This Answer Correct ?    0 Yes 0 No

Question { Genpact, 15608 }

what is contingent asset


Answer

The asset which is under dispute is called contingent asset.

contingent asset are shown as a footnote under the balance
sheet.

Is This Answer Correct ?    8 Yes 1 No


Question { Genpact, 22183 }

what is bank reconciliation statement


Answer

The statement in which bank reconcilation is done is called
bank reconcilation statement.

BRS is a statement which gives the complete and
stastfactory information for the difference between
passbook balance and bankbook balance.

Is This Answer Correct ?    0 Yes 0 No

Question { Genpact, 12792 }

what is accounts payable


Answer

Accounts payable means the amount which is payable to the
creditor are trade creditors for purchasing goods or using
services on credit.

The word accounts payable is used other countries but in
india we use the word sundry crditor.

Is This Answer Correct ?    1 Yes 0 No

Question { Genpact, 17820 }

Define Trial Balance?


Answer

Trail balance is a statement which contains all the ledger
accounts closing balances as on particular date.

Is This Answer Correct ?    2 Yes 2 No

Question { Genpact, 12223 }

Depreciation


Answer

The gradual deduction in the value of fixed asset due to
wear and tear is called depreciation.

Is This Answer Correct ?    0 Yes 0 No