Accounting and Finance Questions

Q:

Public policy tools involve a combination of

A) equipment & penalties B) incentives & equipment
C) penalties & incentives D) All of the above
 
Answer & Explanation Answer: C) penalties & incentives

Explanation:
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Filed Under: Bank Interview
Exam Prep: AIEEE , Bank Exams , CAT
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Q:

when a purchase on account is made the invoice becomes

A) debt B) credit
C) both A & B D) None of the above
 
Answer & Explanation Answer: A) debt

Explanation:
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Filed Under: Accounts Receivable
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

The internal rate of return is defined as the

Answer

The Internal Rate of Return (IRR) is defined as the measure of an investment’s rate of return. It is also called the discounted cash flow rate of return.

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Subject: Bank Interview Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

Which of the following most impacts your credit score?

A) Payment History B) Paying off your credit card bill
C) credit card bill due D) All of the above
 
Answer & Explanation Answer: B) Paying off your credit card bill

Explanation:

Paying off your credit card bill most impacts your credit score.

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Q:

Unearned revenue is classified as

A) Liability B) Owner's equity
C) Asset D) Income
 
Answer & Explanation Answer: A) Liability

Explanation:

Unearned revenue is the money or revenue earned for the product or the service that is not yet sold or provided to the customer. Hence, it comes under liabilities.

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Filed Under: Accounts Receivable
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Job Role: Analyst , Bank Clerk , Bank PO

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Q:

The APC is calculated as

A) consumption/income B) change in income/change in consumption
C) income/consumption D) change in consumption/change in income
 
Answer & Explanation Answer: A) consumption/income

Explanation:

The average propensity to consume (APC) is the ratio of consumption expenditures (C) to disposable income (DI), or APC = C / DI. 

 

Hence, APC = consumption/income.

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Filed Under: Accounts Receivable
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

The credit balance in the bank account is

A) amount liable to pay by bank B) amount liable to pay by customer
C) Both A + B D) None of the above
 
Answer & Explanation Answer: A) amount liable to pay by bank

Explanation:

Bank credit balance meant that the banker is laible to paid us.

And if we have a credit balance accouding to bank statement is mean we have " cash at bank" and in our book we show in the assets side but bank show laiblities side.

 

Hence, The credit balance in the bank account is the amiunt we have in our account and we are eligible to withdraw that.

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Q:

Which of these is an example of eminent domain?

A) a corporator forces public for sell their lands to him B) a state forces people to sell their fields for building highway
C) Both A & B D) None of the above
 
Answer & Explanation Answer: B) a state forces people to sell their fields for building highway

Explanation:

A legal strategy that allows a government to grab hold of private property for public use is known as eminent domain. The seizing authority must pay fair market value for the property seized.

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Filed Under: Accounts Payable
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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