Analyst Questions

Digboi, in Assam is where the oldest oil refinery in India. It was build in 1901.

A microscope is an instrument that magnifies objects. Cells that were first observed by Robert Hooke in the year 1665 in the compound microscope.

An ideal gas cannot be liquified because forces between the molecules are negligible.

Primary succession is the orderly and predictable series of events through which a stable ecosystem forms in a previously uninhabited region. Primary succession occurs in regions characterized by the absence of soil and living organisms.

Enterprise systems (ES) are large-scale application software packages that support business processes, information flows, reporting, and data analytics in complex organizations.

Here option A) The software is expressly built to allow companies to mimic their unique business practices is not TRUE about enterprise systems.

A Bank Reconciliation Statement is a statement prepared periodically by a customer to explain the divergence (difference) between the bank balance as per cash book and the bank balance as per Pass Book. It clearly shows the two differing balances and the outstanding items which causes the balances to disagree.

The objective of preparing such a statement is to know the causes of differences between the two balances and pass necessary correcting or adjusting entries in the books of the firm. But it is to be noted that some differences are automatically adjusted. For example - A cheque that has been sent for collection, but not yet collected, causes a difference between the balance as shown by the pass book and the balance as shown by the cash book, but no adjusting entry is required in the cash book for such a difference because, the bank will credit the firm’s account as soon as the cheque is collected.