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English I
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English II
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Question-1
_______ principle states that the financial statements should be prepared quickly at the end of the accounting period.
(A)
Principle of Consistency
(B)
Principle of Timeliness
(C)
Principle of Materiality
(D)
None of these
Question-2
According to _________ principle, cost of a particular period should be charged from the revenue of same period only.
(A)
Matching Principle
(B)
Going Concern
(C)
Money Measurement
(D)
None of these
Question-3
The entries recorded in journal are transferred to ledger called _______.
(A)
Journalising
(B)
Posting
(C)
Transferring
(D)
None of these
Question-4
According to ________ principle, every cost which is incurred to earn revenue is known as expense.
(A)
Expense Principle
(B)
Revenue Principle
(C)
Realisation Principle
(D)
None of these
Question-5
The balance of various accounts appearing in the ledger are transferred to the ________.
(A)
Balance Sheet
(B)
Trial Balance
(C)
Profit and Loss account
(D)
None of these
Question-6
_______ is a statement of asset and liabilities on a specific date.
(A)
Journal
(B)
Profit and Loss account
(C)
Balance Sheet
(D)
Trial Balance
Question-7
________ principle suggested that revenue should be treated as realised whenever the ownership of goods changes.
(A)
Expense Principle
(B)
Realisation Principle
(C)
Revenue Principle
(D)
None of these
Question-8
________ is assumed that the business will continue to exist for a long - time in the future.
(A)
Going Concern Concept
(B)
Business Entity Concept
(C)
Money measurement Concept
(D)
None of these
Question-9
Financial transactions are recorded in the books of original entry called _______.
(A)
Ledger
(B)
Trial Balance
(C)
Journal
(D)
None of these
Question-10
_______ suggests that every debit has a corresponding and equal credit.
(A)
Matching Principle
(B)
Dual Aspect Principle
(C)
Money Measurement Concept
(D)
None of these
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Std 10
ICSE/ISC
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