What is STPI ? why STPI knowledge required in Accounts Payable?

Correct Answer: Purchasing good two kinds of entry Either Cash or Credit If Cash Purchase A/c ------ Dr xx To Cash A/c (Being good purchase on cash) If Credit Purchase A/c ---- Dr To Supplier A/c (Being goods purchase on Credit)

Correct Answer: After 90 days of the due date

Correct Answer: BRS - Bank Reconciliation Statement A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date The differences may arise because of the following reasons: - Cheques deposited into bank but not yet collected by bank - Cheques issued by the organization but not yet presented for payment - Cheques directly deposited by customers into the bank - Bank charges debited by bank - Interest credited or some receipts directly collected by bank based on org request - Some payments directly made by bank based on the organizations request So, the statement shows the reasons as what are the reasons for difference in balance

Correct Answer: The way in which a bank keeps money in a deposit account in the same way the Depository company converts share certificates into electronic form and keep them in a Demat account

Correct Answer: There is no specific abbreviation for the term WIRE because when the payment is being made using this option, you will not see the physical movement of funds It is all electronic It is just like a current passes through Wire Therefore Electronic movement of funds is campared with WIRE

Correct Answer: Axis Bank

Correct Answer: 1000

Correct Answer: Accounts payable refer to the current liability of a business or an organization That is the unsettled payments in a business or an organization refers to Accounts payable Bills payable refers to bills settled In other words the paid and accepted recorded bills in a business or an organization refers to bills payable

Correct Answer: Back end collections means like commission on sales or commission on providing services Front end collections means like sales and providing services

Correct Answer: To reduce the government share in the public sector

Explanation:

Disinvestment is the action of an organization or government selling or liquidating an asset or subsidiary.