Find the odd one out from the following: 1) Capital, Bills Receivable, Reserve Fund, Bank overdraft. 2) Wages, Salary, Royalty, Import Duty. 3) Surplus, Deficit, Net Profit, Capita... Find the odd one out from the following: 1) Capital, Bills Receivable, Reserve Fund, Bank overdraft. 2) Wages, Salary, Royalty, Import Duty. 3) Surplus, Deficit, Net Profit, Capital fund. 4) Subscription, Stationery, Interest Received, Locker Rent received. 5) General reserve, Creditors, Machinery, Capital. 6) Building, Machinery, Furniture, Bills payable. 7) Discount received, Dividend received, Interest received, Depreciation. 8) Super profit method, Valuation method, Average profit method, Fluctuating capital method. 9) Retaining, Noting, Discounting, Endorsing. 10) Capital, Bills Receivable, Reserve Fund, Bank overdraft.
Understand the Problem
The question is asking to identify the odd item from a list of financial terms and also to prepare a specimen and format for a bill exchange based on the provided details.
Answer
["1) Bank overdraft","2) Import Duty","3) Capital fund","4) Stationery","5) Machinery","6) Bills payable","7) Depreciation","8) Fluctuating capital method","9) Retaining","10) Bank overdraft"]
["For 1) Bank overdraft is a liability, others are not.","For 2) Import Duty is a tax, others are earnings-related.","For 3) Capital fund is an asset, others are outcomes.","For 4) Stationery is an expense, others are incomes.","For 5) Machinery is a fixed asset, others are financial terms.","For 6) Bills payable is a liability, others are assets.","For 7) Depreciation is not income; others are.","For 8) Fluctuating capital method is not primarily a profit calculation method.","For 9) Retaining is not a bill exchange operation.","For 10) Bank overdraft is a liability, others are not (same as 1)."]
Answer for screen readers
["For 1) Bank overdraft is a liability, others are not.","For 2) Import Duty is a tax, others are earnings-related.","For 3) Capital fund is an asset, others are outcomes.","For 4) Stationery is an expense, others are incomes.","For 5) Machinery is a fixed asset, others are financial terms.","For 6) Bills payable is a liability, others are assets.","For 7) Depreciation is not income; others are.","For 8) Fluctuating capital method is not primarily a profit calculation method.","For 9) Retaining is not a bill exchange operation.","For 10) Bank overdraft is a liability, others are not (same as 1)."]
More Information
The odd one out in each list typically either belongs to a different financial or accounting category or represents a different business concept.
Tips
A common mistake is misunderstanding the financial category each term belongs to which can lead to incorrect selection. Ensure you understand the definition and context of each term.
Sources
- Find odd one - Example Source - shaalaa.com
- Book Keeping and Accountancy - Example Source - anyflip.com
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