Correct Answer: Software Technology Parks of India (STPI)Some of the software service providers will get exemption from STPI for their software exports In accounts payable may be we need to define the vendor STPI location wise In India we have different STPI location If one vendor supplying services or materials to all OR some of the STPI locations we need to maintain the same vendor STPI wise
3. What entry is recorded when $75.00 worth of supplies are purchased on account?
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)
4. How much time needs to pass for an A/R account to be considered delinquent?
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
6. what is difference between account payable and bills payable?
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
7. What is the difference between back end collections and front end collections?
Correct Answer: Back end collections means like commission on sales or commission on providing services Front end collections means like sales and providing services
8. Disinvestment means-
Options
A. To reduce government share in the FDI
B. To reduce the government share in the public sector
C. To reduce government share in Market
D. To reduce the government share in the private sector
Correct Answer: The difference between Debentures and Preferential Shares is as follows: 1) Person holding debentures has owed money to a company, while Preferential Shareholder could be considered as a partial owner of the company 2) A Preference shareholder earns dividends if the company is making profits, however a debenture holder needs to be paid irrespective of making profits or losses 3) A debenture holder would be paid the capital invested at the end of a stipulated term A preference shareholder is not promised return of capital invested; instead he earns dividends till the time the company exists and is profitable 4) A debenture holder earns interest on the capital invested till the capital is not returned, while a preference shareholder is paid dividends till the time the company exists
Correct Answer: You can use document parking to enter and store (park) incomplete documents in the SAP System without carrying out extensive entry checks