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knowledge bank -basic learning Concepts

1."Making of profits is a positive phenomenon; however, the language of accounting considers profits to be a liability". Why?

2."When I get an sms from my bank, a credit to my account means that money has been deposited in my account". Am I correct to understand that credit in accounts implies a gainful transaction?

3.Is there any difference between Cost and Expense? Are the words used interchangeably?

4.Is accounting income same as taxable income?

5."When I do questions regarding the making of final accounts, I find that a majority of times stock adjustments are given after the trial balance; however , sometimes they appear within ". Why ?

6.Should administrative expenses be taken as a part of cost while computing cost of inventory?

7.What are Futures?

8.State the assumptions which are necessary for the smooth functioning of financial markets?

9.What do you understand by efficient market?

10.Discuss the role of derivative market.

11.Differentiate between Option and Future.

12.What do you understand by the term REPO? 

13.. What do you understand by reverse REPO? 

14.What is shortselling? 

15. What are the four type of REPOs available in the international market? 

16.What are the uses of REPO?

17.Give examples of Option Strategies

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Accounting And Finance