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 Accounting and Finance Questions

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Q:

Other things the same, when the interest rate rises 

A) people would want to lend less, making the supply of loanable funds decrease. B) people would want to lend less, making the quantity of loanable funds supplied decrease.
C) people would want to lend more, making the supply of loanable funds increase. D) people would want to lend more, making the quantity of loanable funds supplied increase.
 
Answer & Explanation Answer: D) people would want to lend more, making the quantity of loanable funds supplied increase.

Explanation:

Other things the same, when the interest rate rises people would want to lend more, making the quantity of loanable funds supplied increase.

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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:

OMO refers to

Answer

Open Market Operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.

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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:

A capital expenditure results in a debit to 

A) an asset account B) a liability account
C) an expense account D) a capital account
 
Answer & Explanation Answer: A) an asset account

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

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Q:

Credit sales are recorded as

A) Accounts Receivable B) Accounts Payable
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) Accounts Receivable

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

1 1552
Q:

How to define payroll?

Answer

Payroll is defined as its a remuneration given for work done by individuals on daily,monthly,weekly etc....

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Subject: Payroll Interview

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Q:

The chart of accounts is designed to

A) alphabetized the accounts to make reading easier for its financial statement users B) summarize the transactions and determine their ending balances
C) meet the information needs of a company and other financial statement users D) analyse the accounts and organize them in order of dollar amount to simplify the accounting information for users
 
Answer & Explanation Answer: C) meet the information needs of a company and other financial statement users

Explanation:

The chart of accounts is designed to to meet the information needs of a company and other financial statement users.

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

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Q:

Liabilities are defined as

Answer

The words "asset" and "liability" are two very common words in accounting. Liabilities are legally binding obligations that are payable to another person or entity. Accounts payable, loans, mortgages, deferred revenue,... come under liabilities.

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

2 1524
Q:

Which best describes the difference between stocks and bonds?

A) stocks allow investors to own a portion of the company; bonds are loans to the company B) stocks are more reliable investment;bonds tend to be more volatile
C) stocks allow investors to share in profits;bonds make investors responsible for company debts D) stocks pay interest to investors throughout the year; bonds only pay interest at fixed times during the year
 
Answer & Explanation Answer: B) stocks are more reliable investment;bonds tend to be more volatile

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

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