PREPARATION FOR NTS, CTS, FPSC, PPSC JOBS FOR BUSINESS STUDENTS
NTS PAST PAPERS MCQs
NTS PAPERS PREPARATION FOR PUNJAB FOOD AUTHORITY JOB 2019
PUNJAB FOOD AUTHORITY PAPERS PREPARATION
Advance Accounting Glossary:
A distribution of corporate earning to stockholders, made in
the form of additional shares of stock in the proportion of their existing
shares. Its basic purpose is to give shareholders evidence of earning without
the movement of cash.
A dividend paid by the company during the course of its
financial year, is called interim dividend.
Scribe Dividend?
Scribe dividend is synonym for bonus issue. Sometimes
companies issue share and debentures as Dividend which is known as scribe dividend.
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| Accounting Terms |
An amount set aside for any known liability is known as
provision.
Balance Sheet?
A list of assets, liabilities and owner equity usually
prepared at the last day of a month or year.
Fixed Assets?
They are long term or relatively permanent tangible assets
that are used in the normal business operation and include long term assets
that are without physical attributes and useful in the operation of an
enterprise. These assets are not held for resale purpose.
Legal rights given to an inventor for the use of his idea
(registered with his name).
Copy Right?
Right to publish and control specific literary material
granted by law.
A symbol, insignia or name that identified a company.
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Long Term Investment?
Investment that a company intended to keep for more than one
accounting period is known as long term investment.
Advance Payment which has been paid for goods and services
which are to be supplied latter or where benefit is to be felt later. These
payments are expected to convert into expenses after normal operation of
business.
These expenses are incurred to establish a company. These
expenses are treated as capital expenditure.
Current Assets?
Current assets mean assets which are in cash form or can be
converted into cash within one year.
Reserves?
Reserves can be defined as an amount kept aside in
anticipation of any future event.
Capital Reserves?
A reserve which is not available for distribution called
capital reserves.
Revenue Reserves?
An amount withheld which is otherwise available for
distribution is called.
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| Accounting Terms |
Un-Appropriated Profit?
That part of the profit that has not been transferred to some
specific purpose. It is available for dividend distribution.
Its means liabilities due and payable within the twelve
months from the date of balance sheet, together with such other liabilities as
are under accounting principles appropriately so classified.
Amount of dividend presented in AGM for approval to be paid
to the existing shareholders.
Contingent liability is a potential liability which either
will develop into full-fledged liability or will be eliminated out.
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