The double entry system of bookkeeping in practice even before the 12th century. The man behind this popular method of booking was the Italian mathematician Luca Pacioli who first published his comprehensive thesis on the principles of Double Entry System in 1494. Since then, the double entry system is widely practised, and it made it…
What is Financial Accounting? Financial accounting is the process of preparing financial statements that companies’ use to show their financial performance and position to people outside the company, Including investors, creditors, suppliers, and customers. This is one of the most important distinctions from managerial accounting, which by contrast, involves preparing detailed reports and forecasts for…
What is a liability – When a person has committed wrong he will be liable. Thus liability is the condition of the person who has committed a wrong. According to Sir John Salmond, liability is a bond of necessity that exists between the wrongdoer and the remedy for the wrong. Kinds of Liability –…
At the beginning of the nineteenth-century positivist movement was started by the jurists such as John Austin and Jeremy Bentham. At that time the legal positivism was regarded as one of the most influential schools of thought in legal jurisprudence around the world. After that, this school of thought was taken forward by influential…
SOLVED EXAMPLES Example 1 In a certain code language, if the word ‘PARTNER’ is coded as OZQSMDQ, then what is the code for the word ‘SEGMENT’ in that language? (1) TFHNFOU (2) RDFLDMS (3) RDELDMS (4) RDFEDNS (5) RGEFDNT SOL: Word: P A R T N E R Logic: -1 -1 -1 -1 -1 -1…
The student’s analytical reasoning ability is tested by questions on the subject of “Cause and Effect”. Questions based on cause and effect test the ability of the candidate to determine the relation between two events and examine how they are dependent on each other i.e., which of them is the cause for the other one.…
Introduction Suppose you are asked to find the day of the week on 30th June, 1974. It would be a tough job to find it if you do not know the method. The method of finding the day of the week likes in the number of “odd days” Note: Every 7th day count wise, i.e.…
1. How many degrees does an hour-hand move in 10 minutes? 1) 10° 2) 20° 3) 15° 4) 5° 5) 7½° 2. How many degrees will the minute -hand move, in the same time, in which the hour -hand moves 10°? 1) 40° 2) 80° 3) 90° 4) 160° 5) 120° 3. How many degrees…
i) NITlAyog: • It is a new ‘think tank’ to replace planning commission. • Government of India has replaced the old planning commission started in 1950 with new institution called NITI Aayog on 1st January 2015. • It works under the chairmanship of Prime minister. • NITI Aayog (National Institution for Transforming India) will seek…
1. Who is the current CEO of the NITI Aayog? (a) Rajeev Kumar (b) Arvind Subramanyam (c) Amitabh Kant (d) Narendra Modi 2. Which of the following statement is correct about the NITI Aayog? (a) NITI Aayog was Formed 25 January 2016 (b) NITI Aayog comes under the Ministry of Commerce and Industry (c) The…
