Tag: commercial applications

Quizzes (170) Questions (1551)

Questions Related to commercial applications

Multiple choice commercial applications issues of the environment eco-system and its destruction ecology and ecosystem ecology and ecosysytem

The term biocoenosis was coined by

  1. Darwin

  2. Haeckel

  3. Odum

  4. Mobius
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The term biocenosis was coined by Karl Mobius in 1877. It describes the interacting organisms living together in a habitat (biotope). Based on the concept of biocenosis, ecological communities can take in various forms zoocenosis for the faunal community, phytocenosis for the flora community and microbiocenosis for the microbial community.

Therefore, the correct answer is option D.

Multiple choice commercial applications issues of the environment eco-system and its destruction ecology and ecosystem ecology and ecosysytem

__________ is the ecological role and space that an organism fills in the ecosystem.

  1. Ecology

  2. Niche

  3. Biomes

  4. Environment
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Nice is the ecological role and space that an organism fills in the ecosystem. The ecological niche involves both the place where an organism live and role that an organism carries out in its habitat e.g. A plant growing in garden along with soil, climate, sunlight, nutrients etc.

Multiple choice commercial applications issues of the environment eco-system and its destruction ecology and ecosystem ecology and ecosysytem

An ecosystem is characterized by which of the following

  1. Energy flow

  2. Autotrophs converting solar energy to organic compounds

  3. Decomposers recycling organic matter to inorganic compounds

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An ecosystem is a community of living organisms in conjunction with the nonliving components of their environment, interacting as a system. The fundamental source of energy in almost all ecosystems is radiant energy from the sun. The autotrophs processes the light energy and use the energy stored within the simple carbohydrates to produce the more complex organic compounds. The flow of energy through the ecosystem drives the movement of nutrients within the ecosystem. Decomposers play a key role in many of these cycles, returning nutrients to the soil, water, or air, where they can be used again by the biotic constituents of the ecosystem.

So the correct option is 'all of the above'.

Multiple choice commercial applications issues of the environment eco-system and its destruction ecology and ecosystem ecology and ecosysytem

Which of the following constitutes the largest ecosystem of the world?

  1. Ocean

  2. River

  3. Forest

  4. Grassland
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
An ecosystem is a community of living organisms in conjunction with the nonliving components of their environment, interacting as a system. An ecosystem can be as small as a pond or as large as a rainforest. Ecosystems are analysed and studied as unique entities. However, all ecosystems feature an energy input such as the sun's heat which keeps life in the system going. The oceans are the world's largest ecosystems and are considered to cover the shore as far as tidal waters come in.
So the correct option is 'ocean'.


Multiple choice commercial applications accounting procedures - rules of debit and credit golden rules of debit and credit (traditional approach) types of account meaning and classification of accounts

Free Sample Distribution A/c_____.

  1. Real

  2. Personal

  3. Nominal

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Accounts relating to income, revenue, gain, expenses  and losses are termed as nominal accounts. These accounts are also known as fictitious assets as they do represent any intangible asset. A separate account is maintained for each head or expense or loss and gain or income. Wages account, Rent account, Commission account, Interest received account are some examples of nominal account. The rule for nominal accounts is: Debit all expenses and losses; Credit all incomes and gains.

Free Sample Distribution account is an indirect expense of a business and thus, it is classified as a  nominal account.

Multiple choice commercial applications accounting procedures - rules of debit and credit golden rules of debit and credit (traditional approach) types of account meaning and classification of accounts

Office Equipment Account is _________.

  1. Real

  2. Nominal

  3. Personal

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Accounts relating to properties or assets are known as "Real Accounts". A separate account is maintained for each asset e.g. Cash, Machinery, Building, etc. Real accounts can be further classified into tangible and intangible.

1. Tangible Real Accounts: These accounts represent assets and properties which can be seen, touched, felt, measured, purchased and sold. For e.g. Machinery account, Cash account, Furniture account etc.
2. Intangible Real Accounts: These accounts represent assets and properties which cannot be seen, touched or felt but they can be measured in terms of money. For e.g. Goodwill accounts, Patents account, etc.
Office Equipment is the account whose value can be measured in terms of money and treated as an asset of the business. Hence, it is classified as a real account.

Multiple choice commercial applications accounting procedures - rules of debit and credit golden rules of debit and credit (traditional approach) types of account meaning and classification of accounts

Bank of India Account ___________.

  1. Real

  2. Personal

  3. Nominal

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Accounts recording transactions with a person or group of persons are known as personal accounts. These accounts are  necessary, in  particular, to record credit transactions. Personal accounts are of the following types:

1. Natural persons: An account recording transactions with an individual is termed as natural persons' personal account. For e.g., Kamal's account, Mala's account. Both male and females are included in it.
2. Artificial or legal persons: An account recording financial transaction with an artificial person created by law  or otherwise is termed as an artificial persons' personal account. For e.g., Firms' account, limited companies' account.
3. Representative personal account: An account indirectly representing a person or persons is known as representative personal account. When accounts are of similar nature and their number is large, it is better to group them under  one head and open a representative personal account. For e.g., prepaid rent, outstanding wages, etc.
  • Bank of India is a personal account as it is related to a banking firm which is an artificial persons. All those accounts which are related to a person, whether artificial or natural, are termed as personal account.

Multiple choice commercial applications accounting procedures - rules of debit and credit golden rules of debit and credit (traditional approach) types of account meaning and classification of accounts

Real A/c is credited when something comes in.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

All assets of a firm, which are tangible or intangible, fall under the category "Real Accounts".

Tangible real accounts are related to things that can be touched and felt physically. Few examples of tangible real accounts are building, machinery, stock, land, etc.
Intangible real accounts are related to things that can't be touched and felt physically. Few examples of such real accounts are goodwill, patents, trademarks, etc.
The golden rule for Real accounts is: Debit what comes in; Credit what goes out.

Multiple choice commercial applications accounting procedures - rules of debit and credit golden rules of debit and credit (traditional approach) types of account meaning and classification of accounts

Ram's account is a Real account.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation


It is a false statement. Real account states debit what comes in, credit what goes out.If something comes into business, it shall be debited and if something goes out of business, it shall be credited. 

A personal account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for business or corporate use.

Hence, Ram's account is a Personal Account.