RSMSSB Junior Accountant flashcards

33 cards. Read the term and the definition here. The deck at the top of this page is optional.

Accounting equation

Assets equal liabilities plus owner's equity. Every transaction changes at least two elements while keeping the two sides equal, which is why double-entry records a debit and a matching credit.

Trial balance

A statement listing all ledger account balances, debits in one column and credits in another, prepared to test arithmetical accuracy before final accounts are drawn up.

Written down value method

A depreciation method applying a fixed percentage to the opening book value each year, so the depreciation amount falls over time and the asset is never fully written off.

Bank reconciliation statement

A statement reconciling the cash book bank balance with the pass book balance by adjusting items such as unpresented cheques, uncredited deposits, bank charges and interest.

Interest on partner's loan

When a partner advances a loan to the firm and the deed is silent, interest is allowed at six per cent per annum, and it is charged against profits.

Coefficient of variation

The standard deviation expressed as a percentage of the mean. It measures relative dispersion, so two series with different units or means can be compared directly.

Spearman's rank correlation

A measure of association between two rankings, computed as one minus six times the sum of squared rank differences divided by n times n squared minus one.

Compound interest

Interest calculated on the principal plus accumulated interest. The amount equals principal times one plus the rate divided by one hundred, raised to the number of periods.

Median of grouped data

The value in the median class found by adding the lower limit to the fraction of cumulative frequency shortfall divided by class frequency, multiplied by class width.

Probability of an event

The ratio of the number of favourable outcomes to the total number of equally likely outcomes, always lying between zero and one inclusive.

Guru Shikhar

The highest peak of the Aravalli range and of Rajasthan, located on Mount Abu in Sirohi district, rising to about 1,722 metres above sea level.

Kalbelia dance

A traditional dance of Rajasthan's snake-charmer community, performed with swirling black skirts and improvised songs, recognised by UNESCO as intangible cultural heritage.

Indira Gandhi Canal

A canal system fed from the Harike barrage on the Sutlej-Beas, carrying water into the Thar Desert districts and supporting irrigation in Rajasthan.

Pushkar Camel Fair

An annual fair held at Pushkar near Ajmer around Kartik Purnima, featuring camel trading, cattle shows and religious bathing in the sacred Pushkar lake.

Fiscal deficit

The excess of total government expenditure over total receipts excluding borrowings. It measures how much the government must borrow to meet its spending gap.

Repo rate

The rate at which the Reserve Bank of India lends short-term funds to commercial banks against government securities. Raising it tightens liquidity and curbs inflation.

Goods and Services Tax

A destination-based indirect tax on supply of goods and services, levied as CGST and SGST within a state and IGST on inter-state supplies, with input credit allowed.

Revenue deficit

The excess of revenue expenditure over revenue receipts. It shows that current spending is not met from current income and must be financed by borrowing.

Ohm's law

The current through a conductor is directly proportional to the potential difference across it, provided temperature is constant, giving voltage equal to current times resistance.

Photosynthesis

The process by which green plants use chlorophyll and sunlight to convert carbon dioxide and water into glucose, releasing oxygen as a by-product.

Universal blood donor

A person with O negative blood, whose red cells carry neither A nor B antigens nor the Rh factor, so they can be transfused to recipients of any group.

pH scale

A scale from zero to fourteen measuring hydrogen ion concentration; values below seven are acidic, seven is neutral, and values above seven are basic.

Present perfect tense

A tense formed with has or have plus the past participle, used for an action completed at an unspecified time or one whose effect continues into the present.

Active to passive voice

A transformation in which the object becomes the subject, the verb becomes a form of be plus the past participle, and the doer is optionally introduced with by.

Hindi idiom: आँख का तारा

Literally the star of the eye; it means a person who is extremely dear, precious or closely cherished, used affectionately for a beloved family member.

Subject-verb agreement

The rule that a verb must match its subject in number and person; words such as each, every, either and neither take a singular verb even when followed by plurals.

Volatile memory

Memory such as RAM that loses its stored contents when power is switched off. It holds programs and data currently in use by the processor.

Digital signature

An electronic signature created with a private key and verified with the matching public key, providing authenticity, integrity and non-repudiation for digital documents.

Internet Protocol address

A unique numeric label assigned to each device on a network. IPv4 uses 32 bits written as four octets, while IPv6 uses 128 bits.

Ransomware

Malicious software that encrypts a victim's files or locks the system and demands payment for restoring access, often spreading through phishing attachments.

Article 32

A fundamental right empowering a person to move the Supreme Court directly for enforcement of fundamental rights through writs such as habeas corpus and mandamus.

Rajasthan Legislative Assembly

The state legislature of Rajasthan, a unicameral body with 200 elected members, currently seated in the new assembly building at Jaipur.

Chandrayaan-3

An Indian Space Research Organisation lunar mission whose lander Vikram soft-landed near the Moon's south pole in August 2023, making India the first country to do so.