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Question : In the Balance sheet, Debtors exist at Rs.50,000 and Provision for Doubtful Debts at Rs.1,500. How much amount will
be realised from Debtors, if bad debts are Rs.10,000 and remaining debtors are realised at a discount of 5%.

Option 1: Rs.36,575

Option 2: Rs.36,500

Option 3: Rs.39,500

Option 4: Rs.38,000

Team Careers360 17th Jan, 2024

Correct Answer: Rs.38,000


Solution : Explanation:

In Balance Sheet, Total Debtors is Seen in Assets Side as it is a Asset for us and Money will be receiving by us. So if we are Calculating the Realised value of debtors. There is a formula. The Formula for Calculating the value is Total Debtors- Bad Debts- Discount (If given)

So Realised Debtors= Total Debtors- Bad Debts- Discount given to Debtors
Realised Debtors= 50000- 10000= 40000
How to Calculate Discount
Remaining Debtors * Given Percent
= 40000 * 5/100
= 2000

Realised Debtors= Remaining Debtors- Discount
= 40000-2000
= 38000

So Final Answer is 38000

No Treatment Done for Provision for Doubtdul debts as these are not yet bad.

Hence the correct answer is option 4.

46 Views

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Friendship is one of the most significant aspects (1)_____human life. It is a relationship based on mutual trust, respect and support. True friendship is not just about spending time (2)_____, but also about sharing each other's joys, sorrows and dreams. Good friends are those who stand by us in both good times and bad times, providing emotional and moral support. Having good friends can have a positive impact on one's mental health and well-being. Friends can be a source of happiness, laughter and comfort. They can also provide different perspectives and ideas that can help us grow as (3)_____ Moreover, friends can serve as a support system during challenging times, offering words of encouragement and helping us navigate through difficult situations. (4)_____building and maintaining friendships requires effort, patience and understanding. It is important to be there for each other, listen to one another and respect each other's boundaries. It is important to remember that friendships can evolve and change over time, and it is okay to let go of (5)_____friendships.

Select the most appropriate option to fill in the blank number 5.

Option 1: toxic

Option 2: unsafe

Option 3: happy

Option 4: safe

Team Careers360 15th Jan, 2024

Correct Answer: toxic


Solution : The correct choice is the first option.

Toxic means something that is not good for someone. In this context, it is used to convey that it is okay to let go of friendships that are not good for the individual.

155 Views

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Unemployment arises from a variety of_____ (1). One which is always recurring and the effects of which we have had a recent example is the disorganisation of the industry resulting from a long war, this is a serious______ (2) admitting of no easy ________(3) at the best of times. Again there is unemployment which followed a marked diminution in the______ (4) of any raw product, such as cotton; fewer hands are required in the mills and the factories. We may call this the cause of bad harvests. Similar, but more serious is the effect of changes in industry due to the invention of machinery which does more work and requires________ (5) hands. Yet another cause is strike or lockout and this is more to be deplored because such a stoppage is due to a very trivial matter, perhaps the men are working half an hour longer than what their Union permits.

Select the most appropriate option to fill in the blank number 1.

Option 1: causes

Option 2: thoughts

Option 3: things

Option 4: types

Team Careers360 22nd Jan, 2024

Correct Answer: causes


Solution : The correct choice is the first option.

In the context of the passage, the word causes logically fits in the blank. The sentence discusses various reasons or factors leading to unemployment, and causes is the appropriate term to express this idea. The sentence structure requires a noun to indicate a variety of reasons, and the word causes serves this purpose.

Therefore, the correct sentence is: Unemployment arises from a variety of causes.

10 Views

Question : Which of the following is the first man-made plastic that is a bad conductor of heat?

Option 1: Teflon

Option 2: Polythene

Option 3: Bakelite

Option 4: Nylon

Team Careers360 24th Jan, 2024

Correct Answer: Bakelite


Solution : The correct answer is Bakelite.

Bakelite is the first synthetic plastic invented in 1907. It is a thermosetting resin known for its electrical insulating properties, durability and distinctive appearance. Bakelite played a significant role in shaping the plastics industry and had a transformative impact on manufacturing, design and consumer products.

6 Views

Question : Select the option that expresses the following sentence in the superlative degree of comparison.

It looks like our bad fears are coming true.

Option 1: No change required

Option 2: The worse fears are coming back it seems so.

Option 3: It looks like our worst fears are coming true.

Option 4: The fears with bad thoughts come back.

Team Careers360 21st Jan, 2024

Correct Answer: It looks like our worst fears are coming true.


Solution : The correct choice is the third option.

The superlative degree of comparison is used to express the highest level of quality. In this case, the sentence discusses fears, and to convey the most extreme level, the superlative form of the adjective "bad" is "worst".

Therefore, the correct sentence is: It looks like our worst fears are coming true.

64 Views

Question : Chain and Harsha were partners in a firm sharing profits in the ratio of 3: 2. On 1-4-2014 their Balance Sheet was as follows :

Balance Sheet of Charu and Harsha as on 1st April, 2014
Liabilities Amount(Rs) Assets Amount(Rs)
Creditors 17,000 Cash 6,000
General Reserve 4,000 Debtors 15,000
Workmen Compensation Fund 9,000 Investments 20,000
Investment Fluctuation Fund 11,000 Plant 14,000
Provision for bad debts 2,000 Land & buildings 38,000
Capitals:      
Charu- 30,000      
Harsha- 20,000 50,000    
  93,000   93,000

On the above date Vaishali was admitted for 1/4 th share in the profits of the firm on the following terms :
(a) Vaishali will bring Rs.20,000 for her capital and Rs.4,000 for her share of goodwill premium.
(b) All debtors were considered good.
(c) The market value of investments was Rs. 15,000.
(d) There was a liability of Rs.6,000 for workmen compensation.
(e) Capital accounts of Charu and Harsha are to be adjusted on the basis of Vaishali's capital by opening current accounts.
Question:
Amount distributed among the old partners capital account in Respect of Investment fluctuating fund.

Option 1: debiting charu's capital account with Rs 36,00 and harsha with Rs 2,400

Option 2: crediting Charu's Capital account with Rs 3,600 and Harsh with Rs 2,400

Option 3: crediting Charu's capital account with Rs 6,600 and Harsh's with Rs 4,400

Option 4: None of these

Team Careers360 22nd Jan, 2024

Correct Answer: crediting Charu's Capital account with Rs 3,600 and Harsh with Rs 2,400


Solution : Answer = Crediting Charu's Capital account with Rs 3,600 and Harsh with Rs 2,400

  Charu Harsha Vaishali   Charu Harsha Vaishali
        By Bal. B/D 30000 20,000 -
        Revaluation(profit) 1200 800

-

        Reserve 2400 1600 -
        W.C. Res 1800 1200 -
        I.F. Res 3600 2400 -
        Bank - - 20,000
        Premium for Goodwill 2400 1600 -
Bal. C/D 41400 27600 20000        
  41400 27600 20000   41400 27600 20000

 

  Charu Harsha Vaishali   Charu Harsha Vaishali
Current A/c  5400 3600 - By Bal. B/D 41400 27600 20,000
Bal. C/D 36000 24000 20,000        
  41400 27600 20000   41400 27600 20000

Hence, the correct option is 2.

168 Views

Question : Comprehension:

In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Friendship is one of the most significant aspects (1)_____human life. It is a relationship based on mutual trust, respect and support. True friendship is not just about spending time (2)_____, but also about sharing each other's joys, sorrows and dreams. Good friends are those who stand by us in both good times and bad times, providing emotional and moral support. Having good friends can have a positive impact on one's mental health and well-being. Friends can be a source of happiness, laughter and comfort. They can also provide different perspectives and ideas that can help us grow as (3)_____ Moreover, friends can serve as a support system during challenging times, offering words of encouragement and helping us navigate through difficult situations. (4)_____building and maintaining friendships requires effort, patience and understanding. It is important to be there for each other, listen to one another and respect each other's boundaries. It is important to remember that friendships can evolve and change over time, and it is okay to let go of (5)_____friendships.

Select the most appropriate option to fill in the blank number 2.

Option 1: simultaneously

Option 2: together

Option 3: jointly

Option 4: collectively

Team Careers360 17th Jan, 2024

Correct Answer: together


Solution : The correct choice is the second option.

Together: It denotes being with or near each other. The sentence is about spending time with friends.

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