List of Q & A for B.Com.

A Bachelor of Commerce or BCOM is a graduation program in commerce, which designed to provide students a wide range of managerial skills. The core course in the BCOM (Bachelor of commerce), aim to introduce students to the different areas of general business principles like accounting, marketing, finance, human resources and operations management, economics business statistics and more. We have listed the best Q&A for BCOM below, which are related to different topics of BCOM (such as corporate accounting, business organization, etc…).

Answer in elements of auditing

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What is Internal Check? And its objectives and essentially in Auditing.

Course: B.Com.

Internal check denotes such an arrangement of duties among the staff that the work performed by one individual is independently checked by another in a routine course. Under the system of Internal check, care is taken to ensure that ... More

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Answer in elements of auditing

201 Views 1 Answer

What is difference between Internal Audit and Statutory Audit?

Course: B.Com.

Statutory audit and Internal Audit are closely similar as regards the internal control system, ascertainment of adequacy and effectiveness of the accounting system so that its output is reliable, verification of assets and liabilitie... More

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Answer in elements of auditing

358 Views 1 Answer

What is Internal Audit in Auditing? What are its objectives?

Course: B.Com.

Internal Audit implies an audit of accounts by the employees of the organization. Internal audit is a kind of cont... More

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Answer in elements of auditing

278 Views 1 Answer

What is Internal Control in Auditing, and Its Objectives?

Course: B.Com.

Internal Control is an important tool of management and helps the management in performing the various functions and task.According to L.R. Howard: Internal Control is defined as not only internal check a... More

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Answer in elements of income tax

632 Views 1 Answer

What are the Important Components of Salary Structure in India?

Course: B.Com.

The main and Important components of salary structure in India are: Salary or Wages. Normally, incomes of the higher grade employees such as secretary, officers, professionals called salaries while the incomes of... More

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Answer in elements of income tax

327 Views 1 Answer

What is Taxable Salary? How to calculate Salary for Taxation?

Course: B.Com.

MEANING OF SALARY. Taxable salary includes all the cash payments and payments made in kind by employers to their employees. Payment in kind includes the monetary value of all the facilities and benefits that employees get f... More

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Answer in financial accounting

592 Views 1 Answer

What are the Current Assets of a Business?

Course: B.Com.

Current Assets. Current assets are important to businesses because they are the assets that are used to fund day-to-day operations and pay ongoing expenses. Depending on the nature of the business, current assets can range from barrels of c... More

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Answer in financial accounting Answer in management in tourism

493 Views 1 Answer

Define the Current Ratio and Liquid Ratio of Accounting.

Course: B.Com.

Current Ratio and Liquid Ratio are two essential accounting ratios which are used to evaluate the liquidity position on an organization. Current Ratio. A liquidity ratio that measures a company's ... More

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Answer in financial accounting Answer in management in tourism

724 Views 1 Answer

How to analysis the Balance Sheet of a Firm?

Course: B.Com.

Analysis of Balance Sheet of a firm may be conducted internally or externally. Internal analysis is normally done by executives and employees of the firm. External analysis is done by those who are outsiders to the firm i.e. investors, credit agencie... More

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Answer in financial accounting

1K Views 1 Answer

What is Equity in business and Accounting?

Course: B.Com.

Equity. The funds provided in business by the owners are called equity. In accounting, equity is usually defined as the value of the assets contributed by the owners. This is added to the total income earned and retained by... More

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Answer in financial accounting

2K Views 1 Answer

What is Liabilities in Accounting?

Course: B.Com.

Liabilities. A liability is defined as an obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in... More

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Answer in financial accounting

811 Views 1 Answer

What is Depreciation in Accounting?

Course: B.Com.

Depreciation. Depreciation in accounting is a process that proportionately expenses the cost of a fixed asset over the asset's useful economic life. In time, fixed assets will eventually lose all their economic value due to... More

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Answer in financial accounting

958 Views 1 Answer

What is Assets in Business and Accounting?

Course: B.Com.

Assets. In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group action together, e.g. a company, the value of which can be expressed in monetary terms. Assets may b... More

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Answer in financial accounting Answer in management in tourism

772 Views 1 Answer

What are the basic concepts of Balance Sheet?

Course: B.Com, bachelor of tourism studies.

A Balance Sheet is a financial statement that shows the financial position of a firm on a specific date. The three so-called Balance Sheet Accounts are Assets, Liabilities, and Equity. Balance Sheet Accounts are used to track the changes in value of ... More

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Answer in financial accounting Answer in management in tourism

382 Views 1 Answer

What is Balance Sheet?

Course: B.Com, bachelor of tourism studies.

Balance Sheet is a financial statement of an organization. A financial statement is the collection of data organized following the consistent accounting procedures. A business organization conveys its financial position with the help of Balance Shee... More

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