Is it possible for a company to show positive cash flows but be in grave trouble ?

Correct Answer: Journal Entries are recorded on a double entry system ie debit and credit concept In order to record a journal entry the following steps need to be followed - Enter the Journal entry number - Enter the Date of transaction - Enter the Debit item (as per the golden principles of accountancy) - Enter the corresponding GL folio number - Enter the Debit amount - Enter the credit item(as per the golden principles of accountancy) - Enter the amount in the credit column - Provide a brief description of the transaction - leave a single line before next transaction

Correct Answer: ERS is a business process between trading partners that conduct commerce without invoices In an ERS transaction the supplier ships goods based upon an Advance Shipping Notice (ASN) and the purchaser upon receipt confirms the existence of a corresponding purchase order or contract verifies the identity and quantity of the goods and then pays the supplier

Correct Answer: Assets,Dividends,and Expenses

Correct Answer: Help to solve Balance of Payment problems of member countries

Correct Answer: EFT-Electronic Funds Transfer is basically batch of payments are transferring from one bank to another bank with specified time lines EFT payments are also called as BACS if it is UK, ACH in US for domestic payments Foreign payments are called as SWIFT payments WIRE: Wire can be used to release payments for local or international, Different countries will be named in different ways viz, CHAPS for Local Payments made in UK, WIRE for all international payments made from UK and Local & foreign payments made in all other countries

Correct Answer: Golden rules of accounting convert complex book-keeping rules into a set of well defined principles which can be easily studied and applied Real accounts involve machinery, land and building etc Similarly when you credit what goes out, you are reducing the account balance when a tangible asset goes out of the organization Debit All Expenses And Losses, Credit All Incomes And Gains This rule is applied when the account in question is a nominal account Personal-Account ---Debit the receiver ---Credit the Giver Real-Account ---Debit what comes in ---Credit what goes out Nominal-Account ---Debit all expenses and losses ---Credit all income and gains

Correct Answer: Accounts Receivable

Explanation:

The journal entry to record a credit sale is Accounts Receivable. Credit sale is nothing butthe customers pay at the time of buying.

Correct Answer: A cheque is basically issued by an individual but a draft is issued by a bank In a demand draft you have to pay before issuing while a check is withdrawn from the account

Correct Answer: You might initially think that if you haven?t done a degree in finance or economics you haven?t got very much to offer an investment bank, but you?d be wrong Any numerate discipline will have given you a mathematical toolkit that will come in useful in technical banking work, and any good degree proves that you?re intelligent, hardworking, and effective under pressure Extra-curricular activities may have given you a wealth of other skills that are valuable at an investment bank, such as being able to juggle a number of commitments and work with others

Correct Answer: CRR or Cash Reverse Ratio is the amount of money that a commercial bank has to keep with the Reserve Bank of India If the bank increase CRR then the amount with RBI comes down and vice-versa