iam commerce graduate i want to be IT professional how can i b ?

Question

being commerce graduate how bright my carreer be as IT professionl?

Answer 1

Hey Dude you have a very good future....

Hope this information is more than enough... If you find it worth please select as best answer

Simple steps you need to be aware of it before going to an interviw.

1. Fair Accounts knowledge (basics like ... What do u mean by depriciation? that sought of questions will appear.
2. Logical reasoning skills.
3. Fair Stock market knowledge.
4. Answer what you know... No guess works will work........
5. No Attitudes.

GENERAL ACCOUNTING QUESTIONS


1. What is market capitalization?
A. Market capitalization means net worth of the value of the business invested in stock market.
It can be calculated as follow
Market capitalization = Number of shares outstanding x Market price per equity share

2. What is EPS?
A. Earnings available to equity shareholders for each share is called EPS
Eps = Net Profit after providing for preference dividend
Number of equity shares

3. What is unearned revenue?
A. The revenue, which is not yet earned, is called unearned revenue

4. What is P.E. RATIO?
A. P.E. Ratio means price-earning ratio
P.E.Ratio = Market price per equity share
Earning per share

5. The profit earned by a company is an asset or liability
A. It is a liability, as it must be distributed to the shareholders

6. Which year of depreciation should be taken in CFS, i.e., current year or previous year?
A. Depreciation should not be taken in CFS, as it is a non-cash item it should be taken at the debit side of Adjusted P& L a/c

7. If I want to pay more tax, which method of depreciation should be adopted?
A. Diminishing balance method, because every year there will be decrease in depreciation as such there will be increase in profits

8. If I want to pay less tax, which method of depreciation should be adopted?
A. Straight-line method or fixed method

9. Difference between Cost & Price
A. Cost Excludes Profit: - It is the expenditure incurred.
Price Includes Profit: - It the value of goods at which the entity is willing to selling it.

10. Differences between Reserves & Provisions
A. 1 Reserves is an appropriation of profit, where as provision is a charge on profit.
2 Reserves can be distributed as dividend to the shareholders, but it cannot be in the case of provisions.

11. Difference between Book value & Real Value
A. Book value is the value, which will be shown on the asset side of the balance sheet after providing for depreciation on fixed asset every year.
Real value is the cost of the asset at the time of purchase.

12. What is working capital?
A. It means minimum amount required to be retained in the business for day-to-day activities of the business.



13. What is deferred revenue expenditure?
A. It is the expenditure incurred during the year for earning benefits in future. It can be written off partly or wholly year-by-year but it cannot be written off during the year in which it is incurred.
For Ex: - Advertising expense Rs. 25,000/-
J.E. Profit & Loss A/c Rs. 5,000
To Advertisement expense Rs. 5,000
(Being advertisement expense during the year partly written off)
Balance amount i.e., 25,000-5,000 = 20,000 it must be shown as miscellaneous expenses & losses on the asset side of the balance sheet.
It cannot be written off on that year because it is against the law.
Ex: - Advertising, Preliminary exps.

14. What is SEBI? What they do?
A. It means "SECURITY EXCHANGE BOARD OF INDIA". It has been monitoring the activities such as stock exchange, mutual funds etc. They regulate the activities in the market by taking such measures as are deemed fit to protect their interests of the investors in securities & to promote development.

15. What are Mutual funds?
A. It means consolidation of funds in making investments in some other company or in a stock exchange for the purpose of earnings returns on them to the company as well as to the shareholders.

16. Differences between FFS & CFS
A. 1 Preparation of statement of changes in working capital is necessary in the case of FFS, but it is not necessary in the case of CFS.
2 Classification of current assets & current liabilities is necessary in the case of FFS, but it is not necessary in the case of CFS.

17. What is Leverage? Mention its types.
A. Leverage means an increased means of accomplishing some purpose.
In general it refers to a relationship between two interrelated variables. In financial analysis it represents the influence of one financial variable over some other related financial variable. There are three types of Leverages. They are
1. Operating leverage
2. Financial Leverage
3. Combined Leverage
1. Operating leverage = Contribution
EBIT Or Operating Profit
2. Financial Leverage = EBIT
EBT (After interest)
3. Combined Leverage = Contribution OR Operating Leverage x Financial Leverage
EBIT

18. What are Bonus shares? If such shares are issued will it affect the Balance sheet?
A. Bonus shares are shares which are issued at free of cost by capitalizing revenues. If it is issued it will not affect the balance sheet but share capital will increase in proportion to the decrease in reserves.

19. What is Breakeven Point? Explain with its formula
A. It means no Profit or no Loss. In other words it the point where the total cost meet the total sales.
In terms of Units BEP = Fixed Cost
Contribution per unit
(i.e., selling price per unit - variable cost per unit)

In terms of Sales

BEP = Fixed Cost
Profit Volume Ratio

P.V. Ratio = Contribution
Sales x 100

Contribution = Sales - Variable cost

20. If closing stock is sold will it affect to the working capital
A. If it is sold at Cost it will not affect the working capital. If it is sold for less or more than cost (Either cash or credit) it will affect the working capital.

21 What is GAPP?
A. Generally Accepted Accounting Principles

22. How do you calculate simple interest?
A. I = PTR
100
Where I= Interest, P= Principal, T= Time, R=Rate,

23. Difference Between Income statement & Balance sheet
A. 1 Income statement shows the profit & loss of the business, where as Balance sheet shows the financial position of the business.
2 Income statement does not shows what amount is due to & from the business.
3 Income statement includes only revenue items but Balance sheet includes both capital & revenue items.

24.What is IRR?
A. Internal Rate of Return

25. What is Amortization?
A. It means reducing the value of intangible assets such as preliminary expenses, goodwill etc.

26. Sale of investment is a operating or non-operating income
A. It is a non-operating income, as investment is not related to the business.

27. What is Debt equity ratio?
A. Debt equity ratio = Debt OR Outsiders fund
Equity Shareholders fund
Shareholders fund includes equity share capital, Preference share capital, Reserves & Surplus, Profit & Loss a/c (cr. Balance) less all ficticious assets such as preliminary expenses, underwriting commission etc. Outsiders fund includes long term loan, Short term loan, Secured loan, Unsecured loan, Debentures, Mortgages + All current liabilities.

28. Difference between Depreciation & Amortization
A. Depreciation is a charge over an asset where as Amortization is reducing the value of intangible assets.
Intangible assets may be defined as “An identifiable non-monetary asset without a physical substance held for use in the production of goods or services or rentals or for any administrative purpose”.




29. What is BRS? How do you start? i.e., starting point & reasons for difference.
A. BRS means Bank Reconciliation Statement

“A Bank Reconciliation Statement is a statement where in the causes responsible for the difference between the cash book balance & the pass book balances are ascertained & suitable adjustments are made thereon so that the balances of both the books are reconciled or agreed with each other”. A Bank Reconciliation Statement can be started either with a cashbook balance or with a passbook balance.

Reasons for Difference
1. Deposits made by the third party directly to the bank
2. Cheque deposited into the bank but not yet cleared
3. Interest & charges debited or credited by bank
4. Cheque issued but not presented for payment by the third party.


Accounting Questions & Answers


1. What is dishonor of Cheque?
A. Dishonor of cheque means non-payment of cash on a cheque when it is presented for payment.

2. What is countermanding of payment?
A. Counter mending of payment means drawer of the cheque issuing directions to his bankers not to pay the amount.

3. What is endorsement of cheque?
A. Endorsement of cheque means a person holding the cheque transforming the same to other by putting his signature on the back of the cheque, so that the cheque usually gets transferred to others.

4. Can you have cash transaction a based for bill transaction?
A. NO

5.Does the bills used to be stamped?
A. Yes

6. What is discounting of bills?
A. When the holder of a bill (say drawer OR endorsee) is in urgent need of money he can get the bill discounted with a bank or discount house. For that purpose, he has to formally hand over the bill to banker & receive an amount less than the bill value. The difference between bill value & amount received be called discount.

7. What is endorsing of bills?
A. The holder of a bill can transfer legal titles that he has in those bills in favor of a third party by putting his signature on the back of the instrument.

8. What is renewal of a bill?
A. When the maturity date of the bill in fact approaching or it has already approaches the drawee can request the drawer to review the bill if the drawer (or endorsee) obliges there will be renewal of the bills in these cases the drawee is expected to pay some interest.

9. What is dishonor of bill?
A. When the drawee of the bill fails to pay the amount of the bill on the due date or when it is demanded it is called dishonor of bill.

10. What is accounting?
A. " Accounting is the art of recording, clarifying, and summarizing in a significant manner and in terms of money transactions or events which are in part at least of a financial character and interpreting the result there of".

11. Define Management Accounting?
A. Management Accounting may be defined as the “The presentation of accounting information in such a way as to assist management in the creation of policy and in the day - to - day operation of an undertaking ".

12. Difference between Accounting and Book Keeping?
A. Accounting refers to recording and reposting of business information, where as bookkeeping refers to record keeping in a systematic manner. Hence bookkeeping is a part of accounting.


13. Transactions or Business transactions?
A. A business transaction is a transaction or an event or a dealing which has monetary value and which involve transfer of benefit from one person to another. Example: - Purchase of goods, Sale of goods etc,

14. What are goods?
A. Goods are the merchandise commodities products articles to things dealt by a trader. They are meant or re-sale.

15. What is debit?
A. Debit is an entry made on the left hand side of an account. It is a record given to an account.

16. What is credit?
A.Credit is an entry made on the right hand side of an account. It is a reward given to an account.

17. What is debt?
A. Debt is the amount due from a third party to the business.

18. Who is debtor?
A. Debtor is a person who owes money to the business.

19. Who is creditor?
A. Creditor is a person to whom the business owes money.

20. What is Account?
A. It is usually "T" shaped statement containing summarized record of all business transactions confirming to a particular person things or service which have taken place during a particular period of time say one day, one month, one year etc.

21. What is an entry?
A. Entry is a transaction made in any books of account.

22. What is Journal?
A. A journal is an account book where business transactions are first recorded.

23. What is narration?
A. It is a brief explanation to a journal entry given just below such entry, usually written in the brackets.

24. What is ledger entry?
A. An entry in the ledger is called ledger entry. A ledger is a book in which various accounts are opened. It contain all account of business arranged in a systematic manner.

25. What is posting?
A. Posting is the process of entering the transactions already recorded in the journal into the ledger.

26. Carried forward, Brought down, Brought forward
A. Carried forward written at the foot of the page where journal or ledger is opened to indicate the total amount at the foot of that page has been carried forward to the head of the next page. Brought down indicates that the balance (opening) in the account has been brought down from the previous period. Brought forward indicates written at the head of the page to indicate that total amount at the head of the page has been brought forward from the foot of the previous period.

27.Voucher, Receipt, Invoice
A. Voucher is a documentary evidence for money spent Receipt is an acknowledgement of money received Invoice contains the details about the goods sold.
(Quantity, quality, volume, rate, price, buyer, seller, date of sale etc).

28. What is folio?
A. Folio is the number of the page in which journal or ledger is formed.

29. What are tangible assets?
A. They are the assets or things, which can be seen and felt, may be movable or immovable. For Ex: - Furniture, Buildings etc.

30. What is trial balance?
A. Trial balance is a list of debit and credit balances of all ledger accounts prepared on a given date. It is prepared to certify the arithmetical accuracy of the ledger entries. All assets account, expenses account and losses account shows debit balance & all liabilities account, Incomes account and gains account shows credit balance.

34. What is purchase return book?
A. Sometimes, the business will return the goods purchased by them back to the suppliers. The purchase returns is necessitated because of bad quality, damaged caused to goods while they are in transit. In the meantime the purchaser wants to claim allowance from his suppliers for brokerages, shortage or overcharge. At this moment, the purchaser has a need to record the details about goods returned and allowances claimed from his suppliers for brokerage, shortage or overcharge.

34. What is sales book?
A. This book is maintained to record only credit sale of goods. Cash sales are recorded in cashbook and credit sale of things other than goods are recorded in journal proper later credit sale of furniture is recorded in journal proper

35. What is sales returns book?
A. Many a times, a trader is obliged to accept the goods sent back by his customers. Further, he is supposed to entertain the damaged by his customers to grant allowances on account of leakage, shortage or overcharge. To record the above transaction a separate book called "sales return book is maintained".

41. What is trading account?
A. Trading account forms the first part of final accounts. It is prepared to find out the gross profit or loss made in the buying and selling of goods by a trader during a given period.

42. What are direct expenses?
A. Expenses incurred on the purchase of goods such as cartage, freight, cleaning charges, Import duty etc treated as direct expenses.

43. What is profit and loss account?
A. The profit and loss is an account, which shows the item of incomes or gains on the credit side and the items of expenses or losses on the debit side. It starts with gross profit or gross loss transferred from the trading account. The gross profit appears on credit side and gross loss on debit side.

44.Outstanding expenses or expenses due but not paid
A. In order to ascertain the correct and true profit or loss made in the business it becomes necessary to bring into account such expenses which are due but not actually paid. Ex : - Monthly expenses like salary, rent etc paid in subsequent month.

45. Pre-paid expenses or expenses paid in advance
A. Just like outstanding or unpaid expenses there will be some expenses paid in advance. They are Insurance, Taxes Advertising, Telephone charges etc.

46. Outstanding income or income earned but not received
A.Sometimes, certain items of incomes like interest, dividend, rent etc earned but not actually received until the last day of the accounting period.

47. Income received in advance
A. Sometimes income may be received in full in advance before the actual service is rendered. Then such income should not be considered as income of the accounting year, such income belongs to next year. Therefore it becomes a liability.

48. What are Bad debts?
A. It is the common experience of every trader that some of the debtors may not pay the sit debts in full to one or the other, such debts which are not recoverable are called bad debts and will have to be written off.

49. What is Reserve for bad debts?
A. Generally there will be some debts, which the trader feels doubtful such debts are called "Doubtful debts"

50. What is depreciation?
A. Assets owned by trader like furniture, Plant & Machinery, Provision etc will have certain life of utility to the business and they decrease in the value year after year due to wear and tear on account of use in the business. Such decrease in value is called depreciation.

51. What is interest on capital?
A. If interest on capital is to be provided at the end of the accounting year, an entry has to be passed in the journal debiting interest on capital account and crediting capital account with the amount of interest. Interest later will be transferred to profit and loss account by this entry.

52. What is Balance sheet?
A. A balance sheet is a statement of assets and liabilities. It is prepared to ascertain the financial position of his businesses it exists on a given date. It is prepared from the balance of accounts after the preparation of the trading and profit and loss account. It shows the debit and credit balance of personal and real account. i.e., accounts of assets & liabilities.



53. What are fictitious assets?
A. They are the items appearing on the asset side of the balance sheet but now represented by any tangible thing. Ex: - Miscellaneous expenses, Discount on shares etc represent only past losses or expenses but not yet written off.

54. What are fixed assets?
A. Fixed assets are the properties acquired for permanent use in the business. The business earns its revenue by making use of these fixed assets. Plant & Machinery, Land & Buildings etc are the examples of fixed assets.

55. Difference between Trial Balance & Balance Sheet
A. 1) a trial balance is a statement, which contains the balances of all ledger accounts i.e., Personal, Real & Nominal. The balances are placed in the two adjoining columns known as debit and credit columns. It is prepared after the posting from the various subsidiary books is completed but before the final accounts are prepared. Balance sheet is a statement, which contains assets & liabilities.i.e; it contains the balances of real & personal accounts only. Assets are shown on the right hand side & liabilities are shown on the left hand side. It is prepared after the preparation of trading & P&L account.
2) The aim of preparing trial balance is to find out the arithmetical accuracy of accounts where as the aim of preparing balance sheet is to ascertain the true financial position of the business as on a given date.
3) The trial balance contains the balances of nominal accounts where as
Balance sheet does not contain these balances.
4) The capital account as appearing in the trial balance does not include net profit for the period where as the capital account appearing in the balance sheet includes the net profit for the period.
5) The trial balance contains the opening stock of goods but does not contains closing stock, where as The Balance sheet contains the closing stock of goods but does not contains the opening stock.

56. What is Profit & Loss appropriation account?
A. In this account we are going to show those items, which are distributed to share holders as dividend etc. In addition provision for taxation, transfer to reserves, interim dividend etc, will also be shown. It begins with the balance of profit (Loss) at the commencement of the year and ends with balance of profit (loss) at the close of the year.

Balance as per Cashbook xxx
Add: Cheques issued but not presented for payment. Xxx
Less: Cheques received but not deposited into bank xxx
Balance as per Passbook xxxx

Balance as per Passbook xxx
Less: Cheques received but not yet debited xxx
Add: Depositary cheques not yet cleared xxx
Balance as per Cashbook xxxx

57. What is contingent liability?
A. It is a liability arising from the past events the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly with in the control of the enterprise.
Example: - Forward exchange contracts





59. Work in progress
A. It includes stock of unfinished goods, which can be termed as semi finished goods.

60. Cost of Production
A. Opening stock + direct material + all direct expenses + operating expenses - closing stock.

61. Examples of Intangible assets
A. Patents & Copy rights, Goodwill etc.

62. What is market capitalization?
A.Market capitalization means net worth of the value of the business invested in stock market. It can be calculated as follow
Market capitalization = Number of shares outstanding x Market price per equity share

63. What is EPS?
A. Earnings available to equity shareholders for each share is called EPS
Eps = Net Profit after providing for preference dividend
Number of equity shares


64. What is unearned revenue?
A. The revenue, which is not yet earned, is called unearned revenue.

65. What is P.E. RATIO?
A. P.E. Ratio means price-earning ratio
P.E. Ratio = Market price per equity share
Earning per share

66. The profit earned by a company is an asset or liability
A. It is a liability, as it must be distributed to the shareholders

67. Which year of depreciation should be taken in CFS, i.e., current year or previous year?
A. Depreciation should not be taken in CFS, as it is a non-cash item it should be taken at the debit side of Adjusted P& L a/c

68. If I want to pay more tax, which method of depreciation should be adopted?
A.Diminishing balance method, because every year there will be decrease in depreciation as such there will be increase in profits.

69. If I want to pay less tax, which method of depreciation should be adopted?
A. Straight line method or fixed method

70. Differences between Cost & Price
A. Cost Excludes Profit: - It is the expenditure incurred. Price Includes Profit: - It the value of goods at which the entity is willing to selling it.

71. Difference between Reserves & Provisions
A. 1. Reserves is an appropriation of profit, where as provision is a charge on profit.
2. Reserves can be distributed as dividend to the shareholders, but it cannot be in the case of provisions

72. Difference between Book value & Real Value
A. Book value is the value, which will be shown on the asset side of the balance sheet after providing for depreciation on fixed asset every year. Real value is the cost of the asset at the time of purchase.

73. What is working capital?
A. It means minimum amount required to be retained in the business for day to day activities of the business.

74. What is deferred revenue expenditure?
A. It is the expenditure incurred during the year for earning benefits in future. It can be written off partly or wholly year-by-year but it cannot be written off during the year in which it is incurred.

75. What is SEBI? What they do?
A. It means "SECURITY EXCHANGE BOARD OF INDIA". It has been monitoring the activities such as stock exchange, mutual funds etc. They regulate the activities in the market by taking such measures as are deemed fit to protect the interests of the investors in securities & to promote development.

76. What are Mutual funds?
A. It means consolidation of funds in making investments in some other company or in a stock exchange for the purpose of earnings returns on them to the company as well as to the shareholders.


77. Difference Between FFS & CFS
A. 1 Preparation of statement of changes in working capital is necessary in the case of FFS, but it is not necessary in the case of CFS.
2 Classification of current assets & current liabilities is necessary in the case of FFS, but it is not necessary in the case of CFS.

78. What is Leverage? Mention its types.
A. Leverage means an increased means of accomplishing some purpose.
In general it refers to a relationship between two interrelated variables. In financial analysis it represents the influence of one financial variable over some other related financial variable.
There are three types of Leverages. They are:-
1. Operating leverage
2. Financial Leverage
3. Combined Leverage

1.Operating leverage =Contribution
EBIT or Operating Profit

2. Financial Leverage = EBIT
EBT (After interest)

3. Combined Leverage = Contribution OR Operating Leverage x Financial Leverage
EBIT

79. What are Bonus shares? If such shares are issued will it affect the Balance sheet?
A. Bonus shares are shares, which are issued to Existing Share holders at free of cost by capitalizing revenues. If it is issued it will not affect the balance sheet but share capital will increase in proportion to the decrease in reserves.

81. If closing stock is sold will it affect to the working capital
A. If it is sold at Cost it will not affect the working capital. If it is sold for less or more than cost (Either cash or credit) it will affect the working capital.

90. What are extraordinary items as in financial Statements?
A. An unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., employee fraud, a lawsuit, and Preliminary exp.

91. Complete the sequence
A. A) Goodwill - Intangible Asset
B) Oil Wells - Depletion
C) EBITDA - Earnings before Interest, Tax, Depreciation & Amortization.

92. Operating profit is same as EBIT? True or False? State Reason
A. Yes / True, A financial measure defined as revenues less of cost of goods sold and selling general, and administrative expenses. In other words, operating and non-operating profit before the deduction of interest and income taxes.

93. What is Market Price of shares?
A. It is the price of a share, which is traded in the Stock Market.

94. Opening + Purchases =
A. Closing Stock + Cost goods sold / Sales

95. Excess of current assets over current liabilities is termed as Working Capital.


96. Stock is always valued at Purchase price or market value whichever is lower
A. Stock is always valued at intrinsic value or Market value whichever is lower


97. Provision for Income Tax is: Appropriation of Profit

98. Expand
A. a) ROE: Return On Equity
b) ROA: Return on Assets
c) NASDAQ: National Association of Securities Dealers Automatic Quotation system
d) AMEX: American Stock Exchange

99. How ROE is computed?
A. ROE - Net Income/Share holder’s equity

100. State two difference Ordinary & Preference share capital.
A. Ordinary shareholders are the owners of company.
Preference shareholders are not the owners of the company.
Preference shareholders have a preference over Ordinary shareholders in dividend payment & at the time of liquidation. Ordinary shareholders have voting rights where as Preference shareholders do not have.

101. What do you mean by stock split? Illustrate with an example.
A. Stock split is dividing the face value of a share into 2 or more shares of equal denomination.
Eg. A company’s face value of a share is Rs.100 & it is divided into 2 shares of Rs.50 each.

102. Capital is shown on the liability side based on the Business Entity concept.

103. Can land be depreciated? If not what has to be done to show the reduction in the value of land?
A. No/False, It can be revalued to show the reduction in the valuation of asset.





104. What is contingent liability? Give two examples.
A. Contingent liabilities are the liabilities, which have occurred due to unforeseen situations.
a) Stock destroyed by fire
b) Bills of Exchange
c) Theft of assets.

105. Can capital profits be used to declare dividends under normal circumstances?
A. No / False.

106. Dividend cannot be paid if Reserves/Provision/Profits are not provided for

107. What is ADR?
A. American Depository Receipts.

108. What is meant by blue chip?
A. These are the companies, which have high market capitalization/ a highly traded share.

109. What do you mean by Stock & Share?
A. Share is share in the share capital of the company
Stock is bunch of shares.

110. What is Book value per share?
A. Total tangible assets minus total liabilities minus goodwill depreciation divided by time weighted average shares outstanding or Shareholders Equity / Number of O/s

111. What is the difference between G/P & N/P?
A. Gross Profit - It is the profit after deduction of direct expenses & before indirect expenses/Operating expenses. Net Profit – It is the profit after deduction of all expenses (direct & Indirect exp etc.) or any answers.

112. What is Current Ratiosss? State the Ideal current ratio.
A. Current Ratio – Current Assets / Current Liabilities
Ideal Ratio – 2:1

113. What is Prime Cost?
A. Prime cost comprises of direct Material+ direct labor + direct expenses

114. What are right shares?
A. Shares issued to the shareholders of a corporation to subscribe to shares of a new issue of common stock before it is offered to the public.

115. What is S & P 500?
A.Standard & Poor 500 companies Stock Index or it is a Stock Index.


Say True or False

1. Direct costs are called cost of goods sold. TRUE

2. The profit & loss account shows the position of the business. FALSE

3. Capital is excess of liabilities over assets. FALSE

4. Working capital is nothing but excess of total current assets over current liabilities. TRUE

5. Dividend is nothing but distribution of earnings to its shareholders. TRUE

6. Accounts payable should be taken under the head current assets. FALSE

7. Pre-paid expenses should appear on the current assets. TRUE

8. Good will should be written off to nil, but should not be depreciated. TRUE

9. Semi-finished assets sold are called operating profits. FALSE

10. Interest paid or outstanding should be taken into profit & loss account. TRUE


Choose the correct answer

1. Fixed assets are purchased for the purpose of earnings Revenue (Sales)

2. Balance sheet shows the position of the business as on Particular Date

3. Excess of cost & expenditure over Income is Loss

4. The ratio of current assets to current liabilities is Current Ratio

5. Closing stock of raw materials, work in progress should be treated as Current Assets

6. If you open the excel or word sheet you will find the options
File Edit, View, Menu, Windows etc. or Standard Menu

7. How do you open the previously saved information?
File - Open - Selection - Press enter

8. Give the correct meanings for the following

a. Blasphemous =Profane or Impious
b. Dis-interest =Pull
c. Specious = Fairly Seeming
d. Imperative = Necessary Vital
e. Penchant = Indination

Answer 2

Do a diploma in IT technology even for one year that will be best for you, Commerce is a nice profession if you find the right job, IT is about technology lot of difference with both, You have to make up your mind which way to go

Answer 3

you can start of by learning hardware and networking, then you could decide where you want to go in Systems(Operating system like window's /linux/solaris OR in Networking (purely networking like configuration of router /switches etc) . OR from there you could get into software development .
Good luck

Answer 4

i guess so. you also have the option to get into CA and work under an auditor

Answer 5

Yes, you can be, but you have to take other pre-requisite subjects .

Answer 6

go for mca or b level