Question
Explain any five steps in the selection process of employees.

Answer

SELF

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From the following Trail Balance of A.B. Chandra as on 31st December, 2019.
TRIAL BALANCE of A.B. Chandra As on 31.12.2019
ParticularsAmount (Dr.)ParticularsAmount (Cr.)
Cash in Hand2,000Discount Received750
Drawings2,800Capital40,000
Opening Stock (01/01/2018)4,000Purchases Returns1,250
Wages2,000Sales83,000
Cash at Bank3,500Creditors15,000
Insurance700Bank Loan10,000
Trade Expenses1,200
Furniture20,000
Buildings61,000
Salaries5,000
Discount Allowed750
Sales Returns3,000
Purchases31,250
Debtors10,000
Telephone Charges1,000
Bills Receivable1,800
1,50,0001,50,000

The closing stock was valued at 12,000.
You are required to prepare a Trading Account and a Profit and Loss Account for the year ending 31st December 2019 and a Balance Sheet as on 31st December, 2019.
"The interpretation of cost varies based on its context." Discuss this notion in relation to significant cost related concepts.
Abraham is in business. The following balances were extracted from the books as on 31.12.2022. You are required to prepare a trading account and a profit and loss account for the year ended 31.12.2022 and a balance sheet as on that date.
Debit (₹)Credit (₹)
Capital32,000
Drawings4,240
Purchases less Returns15,610
Rates and Taxes388
Salaries1,612
Lighting and Heating164
Electric Power384
Del credere Commission414
Insurance206
Advertising214
Sales less Returns34,176
Bad Debts Written off62
Postage, Telegrams, etc.826
Carriage754
Opening Stock6,160
Wages7,962
Land and Building15,840
Plant and Machinery4,034
Furniture and Fittings378
Sundry Debtors6,082
Sundry Creditors4,422
Cash at Bank5,268
70,59870,598
When preparing the accounts it is necessary to take the following matters into consideration : Closing stock on 31.12.2022 was ₹8,760.