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 Accounts Payable Questions

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Q:

What is the difference between billable and non-billable expenses?

Answer

The terms Billable and Non-Billable expenses are normally associated with say a consultancy company where they bill consultants out to their clients. Therefore Billable expenses will be paid by the client whereas Non-billable will be paid by your employer. What's included in both is subject to the contract your company has with their client.

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Subject: Accounts Payable - Accounting and Finance

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Q:

What is the main function of international monetary fund  ?

A) Help to solve Balance of Payment problems of member countries B) Act as private sector lending arm of the World Bank
C) Finance investment loans to developing countries D) Arrange international deposits from banks
 
Answer & Explanation Answer: A) Help to solve Balance of Payment problems of member countries

Explanation:
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Filed Under: Accounts Payable - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

4 3966
Q:

Which of these investments may pay dividends?

A) Savings account B) Stocks
C) Bonds D) Certificates of deposit
 
Answer & Explanation Answer: B) Stocks

Explanation:

Stock investment may pay the dividends.

The amount of dividend will be depended on how many stocks you own and how much is that's company net income in that year

For example :

If you own 15 % of the company, and the company announced that they will pay Rs. 1,00,000 as dividend this year, you will get dividend payment of Rs. 15,000.

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

2 3798
Q:

What is the types of assets?

Answer

There are three types of assets
1. Fixed assets     :
Those assets which will be used by the company for a long period of time.
a) Tangible assets: those assets which we can see and touch and exp Land & Buildings, Plant & Machinery,Furniture, fixtures and fittings
b) Intangible assets: Those assets which we can't see and touch like Goodwill, Patents, Copyrights, Trade Mark etc

2. Current assets  :
Those assets which can be easily converted into cash within one year like cash in hand, cash at bank, Bills receivable, stock etc

3. Fictitious assets:
its not the actual assets , its the expenditure occurred at the tine of commencement of firm ( capital expenditure )like preliminary expenses, discount on issue on debenture/shares, underwriting commission etc

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Subject: Accounts Payable - Accounting and Finance

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Q:

What is diffrence between automatic Payments Batches and automatic payments?

Answer

Automatic payments batch means auto payment is done on the bases of the batch, which u created for the payment of particular pay group etc.


Automatic payments means auto payments is done on the bases of single transaction u selected base for the payments

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Subject: Accounts Payable - Accounting and Finance

3 3620
Q:

Why does the Outstanding exp & Prepared Expenses treated as Personal Account?

Answer

Because these exps are paid/payable to persons. person includes Sole Proprietor, Partnership Firms, HUF, Co; etc.Personal accounts always appear in B/S until it is transfered to expenditure by debiting to P&L A/C.

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Subject: Accounts Payable - Accounting and Finance

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Q:

Explain What is the difference between debenture holders and creditors?

Answer

Debenture holder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods.

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Subject: Accounts Payable - Accounting and Finance

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Q:

The first step in solving an Ethical Dilemma is to

A) identify the alternatives B) identify an etical situation and ethical issues involved
C) weigh the impact of each alternative on various stakeholders. D) recognize and analyze the principal elements in the situation.
 
Answer & Explanation Answer: B) identify an etical situation and ethical issues involved

Explanation:
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Filed Under: Accounts Payable - Accounting and Finance
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

7 3514