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Accountancy
Commerce
Economics
Statistics
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Question-1
________ refer to certain necessary assumption or condition on which the accounting system is based.
(A)
Accounting Principles
(B)
Accounting Assumptions
(C)
Modifying Principles
(D)
None of these
Question-2
As per the business entity assumption, the business is different from the
(A)
Owners
(B)
Banker
(C)
Government
(D)
None of these
Question-3
The benefits to be derived from the accounting information should exceed its cost is based on ________ principle.
(A)
Consistency
(B)
Materiality
(C)
Cost Benefit
(D)
None of these
Question-4
Dual aspect principle is also known as
(A)
Matching Principle
(B)
Accounting Equivalence concept
(C)
Cost benefit principle
(D)
None of these
Question-5
Going concern assumption tell us the life of the business is
(A)
Very short
(B)
Very long
(C)
No existence
(D)
None of these
Question-6
A business unit is assumed to have an indefinite life comes under
(A)
Business Entity Concept
(B)
Going Concern Concept
(C)
Accounting Period Concept
(D)
None of these
Question-7
Transactions between owner and business are recorded separately due to ________assumption.
(A)
Business entity
(B)
Money Measurement
(C)
Accounting period
(D)
None of these
Question-8
The assets are recorded in books of accounts in the cost of acquisition is based on _______ concept.
(A)
Revenue Realisation
(B)
Historical Cost
(C)
Matching
(D)
None of these
Question-9
________principle requires that the same accounting methods should be followed from one accounting period to the next.
(A)
Consistency
(B)
Materiality
(C)
Cost Benefit
(D)
None of these
Question-10
Accounting entity is an
(A)
Accounting concept
(B)
Accounting convention
(C)
Modifying principle
(D)
None of these
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Plus 1 Commerce
Tamil Nadu (English Medium)
Practice in Related Chapters
Introduction to Accounting
Conceptual Frame work of Accounting
Basic Accounting Procedures I - Double Entry System of Book-Keeping
Basic Accounting Procedures II- Journal
Basic Accounting Procedures III- Ledger
Subsidiary Books I- Cash Book
Bank Reconciliation Statement
Trail Balance and Rectification of Errors
Capital and Revenue Transactions
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