Daily JAIIB Quiz 29 Oct 2026

Assets = Liabilities + Owner‘s Equity. Equity = ₹18,00,000 − ₹7,50,000 = ₹10,50,000.

Furniture increases by ₹80,000 and cash decreases by the same amount. Total assets, liabilities and equity remain unchanged; only the composition of assets changes.

A trial balance checks the arithmetical equality of debit and credit balances. Agreement does not prove that every transaction is correct; omissions and errors of principle may remain undetected.

Recognise salary expense in the year employees rendered service and record outstanding salaries as a liability. Current-year expenses and liabilities increase by ₹60,000, reducing profit before tax.

Annual depreciation = (Cost − Residual Value) ÷ Useful Life = (₹5,00,000 − ₹50,000) ÷ 5 = ₹90,000. It is expensed in profit and loss and accumulated depreciation reduces the asset‘s carrying amount.

Premium per share = ₹15 − ₹10 = ₹5. Total premium = 10,000 × ₹5 = ₹50,000, subject to Companies Act requirements.

Calls in arrears are called amounts not paid by shareholders. ₹1 × 2,000 shares = ₹2,000.

Section 52 permits specified uses, including issuing fully paid bonus shares, writing off certain preliminary expenses and specified issue-related expenses. It is not unrestricted distributable profit.

Trade payables for goods or services on credit are generally current liabilities when they meet the applicable classification criteria.

Depreciation is a non-cash expense that reduced accounting profit. It is added back in the indirect-method reconciliation to calculate cash generated from operations.

Cash paid to acquire property, plant and equipment is generally an investing cash outflow because it relates to acquiring a long-term asset.

Working capital = Current Assets − Current Liabilities. An increase in current assets with current liabilities unchanged increases working capital.

A cash flow statement reports changes in cash and cash equivalents, classified into operating, investing and financing activities. A conventional funds flow statement focuses on sources and applications of funds and changes in working capital.

The Banking Regulation Act, 1949 and its Third Schedule prescribe the relevant forms. Form A is the balance sheet and Form B is the profit and loss account.

Loans and advances are assets because they represent amounts lent to borrowers. Customer deposits are liabilities; share capital and reserves are part of capital and liabilities.

Provisions recognise the financial effect of credit risk and expected or identified losses under applicable accounting and regulatory requirements. They affect profit and the related asset or allowance presentation.

Notes provide supporting details, accounting policies and required disclosures that help users understand financial statements, including prescribed information about advances, asset quality, provisions and capital.

Pillar 3 promotes market discipline through disclosures that help market participants assess a bank‘s capital, risk exposures and risk-management practices. Pillar 1 concerns minimum capital requirements and Pillar 2 supervisory review.

CBS integrates branches and banking channels with a centralised or integrated system, enabling customer accounts and transactions to be accessed across the network. It requires effective security, audit trails and continuity controls.

Role-based access control assigns permissions according to job responsibilities. Strong authentication, segregation of duties, audit trails and access reviews further reduce unauthorised activity.