SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Income, Expenditure and Balance Sheet
Income, Expenditure and Balance Sheet Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
|
1365 videos|1312 docs|1010 tests
|
FAQs on Income, Expenditure and Balance Sheet Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is income and how is it calculated? |  |
Ans. Income refers to the money earned by an individual or a company through various sources such as wages, salaries, investments, or business activities. It is calculated by adding up all the revenue generated during a specific period.
| 2. What is expenditure and how is it categorized in a balance sheet? | |
Ans. Expenditure refers to the money spent by an individual or a company on various expenses such as salaries, utilities, rent, or raw materials. In a balance sheet, expenditure is categorized into two main categories: operating expenditure and non-operating expenditure. Operating expenditure includes expenses directly related to the core business activities, while non-operating expenditure includes expenses that are not directly related to the core business.
| 3. How is a balance sheet prepared and what does it represent? | |
Ans. A balance sheet is prepared by listing all the assets, liabilities, and owner's equity of a company at a specific point in time. It represents the financial position of the company by showing the relationship between its assets (what it owns), liabilities (what it owes), and owner's equity (the owner's investment in the company).
| 4. What is the importance of maintaining a balance between income and expenditure? | |
Ans. Maintaining a balance between income and expenditure is crucial for financial stability. If expenses exceed income, it leads to a deficit and may result in financial difficulties. On the other hand, if income exceeds expenditure, it creates a surplus that can be used for savings or investments. Balancing income and expenditure helps in managing cash flow, meeting financial obligations, and achieving long-term financial goals.
| 5. How can an individual or a company improve its balance sheet position? | |
Ans. An individual or a company can improve its balance sheet position by taking the following steps:
- Increasing income through various sources such as expanding business activities, investing in income-generating assets, or finding additional sources of revenue.
- Reducing unnecessary or non-essential expenses to lower the overall expenditure.
- Managing liabilities by paying off high-interest debt, negotiating better loan terms, or refinancing existing debts.
- Increasing owner's equity by retaining profits and reinvesting them back into the business or personal investments.
- Regularly reviewing and updating the balance sheet to track progress and make necessary adjustments.
About this Video
|
4.69/5 Rating |
|
Nov 24, 2024 Last updated |
Video Description: Income, Expenditure and Balance Sheet for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Income, Expenditure and Balance Sheet have been prepared according to the SSC CGL exam syllabus.
Information about Income, Expenditure and Balance Sheet covers all important topics for SSC CGL 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Income, Expenditure and Balance Sheet.
Introduction of Income, Expenditure and Balance Sheet in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Income, Expenditure and Balance Sheet in
Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics related with notes, lectures and mock test series for
SSC CGL Exam by signing up for free.
Description
Video Lecture & Questions for Income, Expenditure and Balance Sheet Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
Information about Income, Expenditure and Balance Sheet
Here you can find the meaning of Income, Expenditure and Balance Sheet defined & explained in the simplest way possible.
Besides explaining types of Income, Expenditure and Balance Sheet theory, EduRev gives you an ample number of questions to practice Income, Expenditure and Balance Sheet tests,
examples and also practice SSC CGL tests.
|
1365 videos|1312 docs|1010 tests
|
|
Explore Courses for SSC CGL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Free
,Income
,Semester Notes
,Exam
,past year papers
,Expenditure and Balance Sheet Video Lecture | SSC CGL Tier 2 - Study Material
,video lectures
,Sample Paper
,Objective type Questions
,Previous Year
,Previous Year
,Previous Year
,Previous Year Questions with Solutions
,Online Tests
,Viva Questions
,Income
,Online Tests
,Important questions
,Income
,Summary
,practice quizzes
,ppt
,Expenditure and Balance Sheet Video Lecture | SSC CGL Tier 2 - Study Material
,Expenditure and Balance Sheet Video Lecture | SSC CGL Tier 2 - Study Material
,Online Tests
,study material
,Extra Questions
,shortcuts and tricks
,MCQs
;
Study Income, Expenditure and Balance Sheet on the App
Students of SSC CGL can study Income, Expenditure and Balance Sheet alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Income, Expenditure and Balance Sheet,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Income, Expenditure and Balance Sheet is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup