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Accounting Equation  Short Questions and Answers Q.1      WHAT DO YOU MEAN BY ACCOUNTING CONCEPTS? Ans.    The term ‘Concepts’ includes those basic assumptions or conditions upon which accounting is based. The following important accounting concepts are as : Business Entity concept Going concern concept Money measurement concept Cost concept Duel Aspect concept Accounting period concept Matching concept Realization concept Q.2      …

Introduction to Accounting Short Questions & Answers Q.1.     DEFINE BUSINESS? Ans.    Any legal activities in a country undertaken for earning profit is called business. Q.2.     WHAT ARE THE KINDS OF BUSINESS? Ans.    There are three kinds of business. Manufacturing ii. Merchandise Trading    iii. Service. Q.3.     DEFINE BUSINESS TRANSACTION? Ans.    Business transaction means dealing with two persons like acquiring …

Journal, Ledger & Trial Balance – Short Questions with Answers Q.1.     WHAT YOU MEAN BY JOURNAL? Ans.   Word journal is derived from French word “Jour” which means day. Business transactions are recorded in journal daily, that’s why it is called “Day Book”. Transactions are recorded Chronologically in Journal. It is Also Called “Book of Original Entry” or ” Book of …

Single Entry Bookkeeping System also known as Single Entry Accounting System or Accounts form Incomplete Records. It is a method of bookkeeping relying on a one sided accounting entry to maintain financial information. Most businesses maintain a record of all transactions based on the double entry bookkeeping system. However, many small, simple businesses maintain only a single-entry system that records …

Banking Transactions – Short Questions with Answers Q.1      WHAT IS BANK.? Answer:   Bank is a financial institution which deals in money. It takes money from the people their savings on low rate of interest and lends to the needy people At high rate of interest. This difference of rate of interest its income. Q.2  WRITE THE KINDS OF …

Bills of Exchange – Short Questions with Answers Q.1      WHAT IS BILL OF EXCHANGE? Answer:-    A bill of exchange is a negotiable instrument which is written in evidence Of credit sales. It is an un condition order by the drawer to drawee to certain sum Only to or the order of a certain person  or to the bearer …

URDU for 2nd Year  (Sarmaya-e-Urdu) Download Free Complete Book  – Punjab Text Books   FREE DOWNLOAD This book is published by Punjab Curriculum and Text Book Board, Lahore for the Students of 12th Class for Educational Session 2016-17. To Download or Read On-line, Complete List of  PUNJAB TEXT BOOKS Click HERE Book Name =  URDU for 2nd Year  (Sarmaya-e-Urdu)  for 2nd Year Writer(s)    …

URDU for 1st Year  – Punjab Text Books   FREE DOWNLOAD This book is published by Punjab Curriculum and Text Book Board, Lahore for the Students of 11th Class for Educational Session 2016-17. To Download or Read On-line, Complete List of  PUNJAB TEXT BOOKS Click HERE Book Name =  URDU for 1st Year Writer(s)     =  Muhamamd Zubair Sahi, Pro. Ayyaz Asghar Shaheen and others …

Sanggat Urdu Key to Urdu for 12th Class – Punjab Text Books   FREE DOWNLOAD In this book you will be find guide to urdu namely, “Sanggat Urdu Key to Urdu for 12th Class”.  To Download or Read On-line, Complete List of  PUNJAB TEXT BOOKS Click HERE Book Name =  Sanggat Urdu Key to Urdu for 12th Class Writer(s)     =  Pro. Muhammad Masood Akhtar, …

Solved Past Papers English, Urdu, and Pak Study  for 2nd Year   FREE DOWNLOAD In this book you will be find Solved Past Papers English, Urdu, and Pak Study  for 2nd Year To Download or Read On-line, Complete List of  PUNJAB TEXT BOOKS Click HERE Book Name =  Solved Past Papers English, Urdu, and Pak Study  for 2nd Year Writer(s)     =  N/A …