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Q1. Name the branch of commerce, which keeps a record of monetary transactions in a set of books.

Q2. On 1st January, Mr. Vinit was appointed as marketing manager of the firm with a salary of 50,000 per month .State whether this event will be recorded in the books of accounts?

Q3. A firm follows a practice of giving the figures of previous year along with the figures of current year. Now the accountant of the firm wants to discontinue this practice. Do you justify this decision?

Q4. Principal of a public school conducted an interview of candidate for selection of an accountancy teacher Miss. Aruba was selected and was given an appointment letter wherein her salary was stated as 30,000 per month. Will it be recorded in the books of accounts?

Q5. What is the value involved in adopting the same method of depreciation year after year?

Q6. Ms.Preeti, an electronic goods dealer, gifted a washing machine valued 25,000 to her friend Suruchi. Will it be recorded in the books of accounts?

Q.NO. 2- NO, THIS IS NOT A CASH TRANSACTION AND HENCE WILL NOT BE RECORDED .

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1. book Keeping

2. No it is not a monetory transaction so it will not be recorded.

3. The Accountant cannot discontinue according to his will. He can do it only if the accounting standards requires it or the law requires the change as under Consistency Assumption.

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4. Same as Q.2.

6.Yes it will be recorded as it is of monetory nature.

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Yes it is a good answer waishe mujhe answer pata tha Bas check karna tha ki thik hai ya nhi
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Large order of supply of good received by the firm is to be recorded in a set of book
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1. BOOK KEEPING
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