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- Question
What is 'Three-Way Match' refers in Acconting ?
- Correct Answer
- In accounting, the Three-way Match refers to a procedure used when processing an invoice received from a vendor or supplier The three-way match is an important step in safeguarding an organization's assets The purpose of the three-way match is to avoid paying incorrect and perhaps fraudulent invoices Here Three-way refers to the three documents involved : * Vendor's invoice which was received and will become part of an organization's accounts payable if approved * Purchase order that was prepared by the organization * Receiving report that was prepared by the organization And Match refers to the comparison of the quantities, price per unit, terms, etc appearing on the vendor's invoice to the information on the purchase order and to the quantities actually received After the vendor's invoice has been validated by the three-way match, it can be further processed for payment
- 1. What is a Parked Report ? Discuss
- 2. What is the difference between debenture and preference share ? Discuss
- 3. 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 Discuss
- 4. What is the difference between back end collections and front end collections? Discuss
- 5. what is difference between account payable and bills payable? Discuss
- 6. Cash Reserve Ratio ( CRR) and Stautory Liquidity Ratio (SLR ) are terms most closely related to which of the following industries/markets :
Options- A. Mutual Fund
- B. Income Tax
- C. Stock Exchange
- D. Banking Discuss
- 7. What is the difference between billable and non-billable expenses? Discuss
- 8. The first step in solving an Ethical Dilemma is to
Options- A. identify the alternatives
- B. identify an etical situation and ethical issues involved
- C. weigh the impact of each alternative on various stakeholders.
- D. recognize and analyze the principal elements in the situation. Discuss
- 9. Securities and Exchange Board of India (SEBI) is related to
Options- A. Government of India
- B. Banks
- C. State Government
- D. Share Market Discuss
- 10. Which Bank has obtained RBI approval to open representative offices in Kuwait and Singapore?
Options- A. SBI
- B. Federal Bank
- C. HDFC
- D. ICICI Discuss
Accounting and Finance problems
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Correct Answer: You can use document parking to enter and store (park) incomplete documents in the SAP System without carrying out extensive entry checks
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: 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.
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: 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: Banking
Correct Answer: The terms Billable and Non-Billable expenses are normally associated with say a consultancy company where they bill consultants out to their clients Therefore Billable expenses will be paid by the client whereas Non-billable will be paid by your employer What's included in both is subject to the contract your company has with their client
Correct Answer: identify an etical situation and ethical issues involved
Correct Answer: Share Market
Correct Answer: Federal Bank
Explanation:
Federal Bank has obtained RBI approval to open representative offices at Kuwait and Singapore.
The bank has been the preferred banker for NRI's and the NRI friendly measures have resulted in increasing inflow of foreign remittances.
The bank already has its representative offices in Abu Dhabi and Dubai and it has tied up with 110+ overseas banks/remittance partners.
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