1. Passage Reading
2. Verbal Logic
3. Non Verbal Logic
4. Numerical Logic
5. Data Interpretation
6. Reasoning
7. Analytical Ability
8. Basic Numeracy
Quiz No. 2 (Terminology of Commerce)
Accommodation Bill: Bill of exchange endorsed by a reputable third party (called an accommodation party or accommodation endorser) acting as a guarantor, as a favor and without compensation. The bill then can be discounted on the financial strength of the guarantor who remains liable until the bill is paid. Also called accommodation note, accommodation paper, or (in the UK) windbill.
Adjustment Entries: Adjusting entries are made in your accounting journals at the end of an accounting period after a trial balance is prepared. The purpose of adjusting entries is to adjust revenues and expenses to the accounting period in which they occurred.
After the entries are made in the accounting journals, they are posted to the general ledger in the same way as any other accounting journal entry. There are several types of adjusting entries that can be made, depending on the types of financial activities that apply to your business.
Ad Valorem Tax: The Latin phrase ad valorem means "according to value." All ad valorem taxes are levied based on the determined value of the item being taxed. In the most common application of ad valorem taxes, municipal property taxes, the real estate of property owners is periodically assessed by a public tax assessor to determine its current value. The assessed value of the property is used to compute a tax annually levied on the property owner by a municipality or other government entity.
Ad valorem taxes, which are based on ownership of a real asset, can be looked at in contrast to transactional taxes, such as sales taxes. While ad valorem taxes are determined and levied annually, transactional taxes are only levied at the time of a transaction.
Country Wise Quizzes:
Afghanistan
Albania
Algeria
Andorra
Angola
Anguilla
Antigua & Barbuda
Argentina
Armenia
Australia
Austria
Azerbaijan
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USA
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Subject Wise Quizzes:
Anthropology
Sociology
Psychology
Economics
Political Science
Geography
Environmental Science
Physics
Chemistry
Botany
Zoology
Agriculture
Commerce
Geology
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