Bihar Rural Livelihoods Promotion Society Accountant Interview Questions, Process, and Tips

Outstanding rent is recorded as a liability in the books of accounts.

• Outstanding rent is the rent that is due but not yet paid by the tenant.

• It is recorded as a liability in the books of accounts.

• The entry for outstanding rent is: Debit Rent Receivable and Credit Rent Income.

• For example, if the rent due for the month of January is not paid by the tenant, it will be recorded as outstanding rent.

• The outstanding rent will...read more

Outstanding entries are shown in the liabilities section of the balance sheet.

• Outstanding entries represent amounts owed by the company to its creditors or other parties.

• These entries are typically recorded as accounts payable or accrued expenses.

• Liabilities section of the balance sheet includes accounts payable, accrued expenses, and other outstanding obligations.

• Examples of outstanding entries include unpaid invoices

0/1 and 1/0 are mathematical expressions representing division by zero.

• 0/1 is equal to 0

• 1/0 is undefined

• Division by zero is not allowed in mathematics

Valuation of agriculture goods involves determining the fair market value of crops, livestock, and other agricultural products.

• Factors that affect valuation include supply and demand, quality, and market conditions.

• Valuation methods may include cost approach, market approach, and income approach.

• Examples of agricultural products that may require valuation include corn, wheat, soybeans, cattle, and dairy products.

Livelihood refers to the means of supporting oneself and one's family through work or income.

• It includes all the activities and resources that people use to earn a living.

• Examples include farming, fishing, trading, and wage labor.

• Livelihood can be affected by factors such as economic conditions, natural disasters, and government policies.

• Sustainable livelihoods aim to ensure that people have access to the resources and...read more