Explanation

 A job description contains the following components:

job title,

job purpose,

job duties and responsibilities,

required qualifications,

preferred qualifications, and working conditions.

Explanation

Unsystematic risk is unique to a given business or industry.

It is also known as specific risk, nonsystematic risk, residual risk, or diversifiable risk.

Explanation

The supervisor's salary is a manufacturing overhead cost as it is a factory cost,

it is also included in the conversion cost along with direct labor.

Explanation

Capital expenditure is an expenditure incurred on the construction of dams, steel plants, etc.

It is a non-recurring type of expenditure and is also called developmental expenditure.

Explanation

Debtors have the least profit share due to the: Not participating in operational risk

Operational risk summarizes the chances a company faces in the course of conducting its:

daily business activities,

procedures,

and systems.

Explanation

Liabilities are Obligations.

Liabilities are the debts that a business owes to third-party creditors.

ND5-09-2023

Explanation

Goods returned by the customer should be debited to the Return inward account.

The journal entry for the above transaction will be

Return inwards/ sales return a/c      Dr.

   To Debtors a/c

Therefore, it will be debited to return the inward account.

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Explanation

The formula for compound interest is:

A = P(1 + r/100)ⁿ

A = Amount

P = Principal

r = rate of interest

n = conversion period

In the given problem statement :

P = Rs. 1,00,000

r = 5%

n = 6 months

(i) Interest for six months

A = 1,00,000(1 + 5/100)¹

= 1,00,000(1 + 0.05)

= 1,00,000(1.05)

= 1,05,000

Interest for six months = 1,05,000 - 1,00,000

= Rs.5000

(ii) Amount for six Months = Rs. 1,05,000

(iii) Interest for next six months

A = 1,05,000(1 + 5/100)

= 1,05,000(1.05)

= 1,10,250

Interest for next six months = Rs. 1,10,250 - Rs. 1,10,000

= Rs. 5,250

(iv) Amount for One year = Rs. 1,10,250

Explanation

A contract is a type of legally binding written or spoken agreement.

A valid contract will create a mutual obligation.

This means that each of the parties is obligated, or required, to perform a duty under the contract.

The contract conditions determine the parties' obligations.

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Explanation

Verification is a procedure of:

examining and confirming the ownership

actual existence,

valuation

and possession of the assets and liabilities appearing in the Balance Sheet.

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