Bank Exams Questions

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The primary use of iron ore is in the production of iron. Most of the iron produced is then used to make steel. Steel is used to make automobiles, locomotives, ships, beams used in buildings, furniture, paper clips, tools, reinforcing rods for concrete, bicycles, and thousands of other items.

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

Money lent at 9% = x
Money lent at 7% = (2600 – x)
⇒ 9x/100 + (2600 – x) X 7 /100 = 206
⇒ 9x + 18200 – 7x = 20600
⇒ 2x = 2400
⇒ x = 1200
Money lent at 7% = 2600-1200 = 1400

True, the carbon in the ocean originates from the atmosphere. The oceanic surface water absorbs the carbon dioxide gas from the atmosphere and dissolves in it.