6. Give any two examples of non-economic transactions.
7. What is the difference between discount allowed and discount received?
8. What are the present slabs of GST?
9. Write any two rules for preparing subsidiary book.
10. What does balance of bank account indicates?
Answers
Answer:
the first question's answer is
Free -Time Activities – Its only aims at acquiring pleasure in idle time. ...
Family-Commitment Activities – This activity is dedicated and inspired by family. ...
Cultural and Religious Activities – The activity includes happiness and mental satisfaction.
the second
A discount allowed is when the seller of goods or services grants a payment discount to a buyer. ... A discount received is the reverse situation, where the buyer of goods or services is granted a discount by the seller. The examples just noted for a discount allowed also apply to a discount received.
the third
GST Rates for Goods
The government has proposed a 4-tier tax structure for all goods and services under the slabs- 5%, 12%, 18% and 28%. After the recent revision of GST rates, these are the commodities that fall under the four tax slabs along with those that do not attract any tax.
the fourth
Preparation of Purchase Day Book:
Preparation of Sales Day Book:
Preparation of Returns Outward or Purchase Returns Book:
Preparation of Returns Inward or Sales Returns Book:
Preparation of Bills Receivables Book:
Preparation of Bills Payable Book:
the fifth
In banking, the account balance is the amount of money you have available in your checking or savings account. Your account balance is the net amount available to you after all deposits and credits have been balanced with any charges or debits.
hope it helps!