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English II
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Question-1
_______ principle states that accounting procedures and methods should remain consistent from one year to another.
(A)
Principle of Conservatism
(B)
Principle of Materiality
(C)
Principle of Consistency
(D)
None of these
Question-2
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-3
A business firm is treated as a unit separate and distinct from its owners under ______ concept.
(A)
Going Concern Concept
(B)
Business Entity Concept
(C)
Money Measurement Concept
(D)
None of these
Question-4
________ means determining the difference between debit side and credit side totals of an account.
(A)
Posting
(B)
Journalising
(C)
Balancing
(D)
None of these
Question-5
_______ 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-6
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-7
Under ________ concept, financial statements are prepared at regular intervals, generally one year.
(A)
Going Concern Concept
(B)
Accounting Period Concept
(C)
Money measurement Concept
(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
The entries recorded in journal are transferred to ledger called _______.
(A)
Journalising
(B)
Posting
(C)
Transferring
(D)
None of these
Question-10
_________ is the art of recording financial transactions in the books of accounts in a regular and systematic manner.
(A)
Accounting
(B)
Book Keeping
(C)
Journal
(D)
None of these
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Std 10
ICSE/ISC
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