RSMSSB Junior Accountant key terms

A book-keeping method in which every transaction is recorded with equal debits and credits in at least two accounts, so total debits always equal total credits and the accounting equation stays balanced.

The first written record of a transaction, showing date, accounts debited and credited, amounts, and a short narration, before the amounts are posted to ledger accounts.

A classified summary of all transactions affecting one particular account, with debit and credit sides, used to compute its closing balance for the trial balance and final statements.

A statement listing closing debit and credit balances of all ledger accounts on a given date to test arithmetical accuracy; it does not prove that all entries are correct.

A temporary account opened to absorb the difference in a trial balance when errors remain undetected, later closed once the errors are located and corrected.

The systematic allocation of the depreciable cost of a fixed asset over its useful life, reflecting wear, obsolescence, or passage of time, and charged to profit or loss.

An estimated amount set aside from profits for debts likely to become irrecoverable, created by debiting profit or loss and shown as a deduction from debtors.

Amounts owed by customers that are confirmed irrecoverable and written off as a loss, distinct from a general provision for debts not yet confirmed as bad.

A statement prepared to explain the difference between the cash book bank balance and the bank statement balance by listing cheques in transit, unpresented cheques, and bank charges.

A book of original entry that records cash and bank receipts and payments, serving simultaneously as journal and as the cash and bank ledger accounts.

A small-cash book maintained under the imprest system, recording low-value routine expenses and periodically reimbursed to restore the fixed float.

A statement of assets, liabilities, and capital on a specified date, prepared from ledger balances after closing revenue accounts, showing the financial position of a business.

The account that compares net sales with cost of goods sold, comprising opening stock, purchases, direct expenses, and closing stock, to arrive at gross profit or loss.

The excess of net sales over cost of goods sold, calculated before deducting indirect expenses, and transferred to the profit and loss account.

Spending incurred to acquire or improve a long-term asset whose benefit extends beyond one accounting period, recorded in the balance sheet rather than charged to revenue.

Spending on day-to-day operations or on maintaining an asset in working order, whose benefit is consumed within the accounting period and is charged to profit or loss.

The arithmetic average of a set of observations, obtained by dividing the sum of all values by the number of values; sensitive to extreme observations.

The middle value of an ordered data set, or the average of the two middle values when the count is even; less affected by extreme values than the mean.

The value or class that occurs most frequently in a data set; a distribution may be unimodal, bimodal, or have no mode at all.

The positive square root of the variance, measuring the typical spread of observations around the mean in the same units as the data.

The average of squared deviations of observations from their mean, measuring dispersion; its square root gives the standard deviation.

The ratio of standard deviation to mean, usually expressed as a percentage, used to compare variability between data sets with different units or averages.

Interest computed only on the original principal for the whole period, using the formula principal multiplied by rate multiplied by time divided by one hundred.

Interest computed on the principal plus previously accumulated interest, so the amount grows geometrically over each compounding period.

The relationship that distance equals speed multiplied by time, used to solve problems involving relative speed, average speed, and trains crossing objects.

A Rajasthan school of miniature painting centred on Udaipur, known for court scenes, ragamala and Krishna themes, fine line work, and vibrant natural colours.

A Rajasthan miniature school patronised by Raja Sawant Singh, famous for delicate female figures, lotus-pond settings, and soft lyrical treatment of Radha and Krishna.

A traditional Rajasthani folk dance performed by women in swirling ghagras, characterised by graceful circular movements and songs, popular at festivals and weddings.

A lively dance of the Kalbelia snake-charmer community of Rajasthan, performed with rapid spins and flexible movements, recognised by UNESCO as intangible heritage.

A cattle fair held at Parbatsar in Nagaur district honouring the folk hero Tejaji, featuring livestock trading, folk performances, and religious observance.

A large annual livestock and cultural fair held at Pushkar in Ajmer district near the Brahma temple, noted for camel trading, competitions, and tourist attraction.

The rate at which the Reserve Bank of India lends short-term funds to commercial banks against government securities, used as a principal tool of monetary policy.

The share of net demand and time liabilities that scheduled banks must keep as cash balances with the Reserve Bank of India, earning no interest.

The minimum percentage of net demand and time liabilities that banks must hold in liquid assets such as cash, gold, or approved securities before lending.

The gap between total government expenditure and total receipts excluding borrowings, indicating the amount the government must borrow during the year.

The excess of revenue expenditure over revenue receipts, showing the shortfall in meeting recurring spending from recurring income of the government.

The process by which green plants use sunlight, water, and carbon dioxide, with chlorophyll, to make glucose and release oxygen, occurring mainly in chloroplasts.

The biochemical release of energy from glucose inside cells, with or without oxygen, producing carbon dioxide and water as by-products in aerobic conditions.

A volatile primary memory from which the processor reads and writes data and programs during execution; its contents are lost when power is switched off.

A non-volatile memory holding permanent instructions such as the boot firmware, whose contents normally cannot be altered by ordinary program execution.

A small, very fast memory placed between the processor and main memory that stores frequently used data and instructions to reduce access time.

The complete address of a resource on the web, specifying the protocol, domain name, and path, such as the address typed in a browser bar.

A unique numeric label assigned to a device on a network, used to route data packets; common forms are IPv4 and the longer IPv6.

In Hindi grammar, the phonetic combination of two adjacent sounds or words that produces a modified form, classified as swar sandhi and vyanjan sandhi.

A Hindi compound word formed by joining two or more words, where the combined form expresses a single integrated meaning and the constituent words may lose their endings.

Words having the same or nearly the same meaning in a given context, tested in English language sections to judge vocabulary range and precision of usage.

Words with opposite or nearly opposite meanings, used in language tests to check whether a candidate can identify contrast in sense between words.