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Accountancy
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English I
Economics
English II
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Question-1
The concept of conservatism is also called _____
(A)
Prudence
(B)
Objectivity
(C)
Realization
(D)
None of these
Question-2
Convention of conservatism will have the effect of
(A)
Overstatement of asset
(B)
Under statement of profit and asset
(C)
Under statement of liabilities
(D)
Under statement of provisions for doubtful debts
Question-3
According to going concern concept the business will continue for a ___________ in future
(A)
Long time
(B)
Short time
(C)
None of these
(D)
Both of these
Question-4
Under____________ basis of accounting all incomes are considered to be earned only when they are actually received in cash
(A)
Cash
(B)
Accrual basis
(C)
Both of these
(D)
None of these
Question-5
Every business transactions has two aspects one on debit and another on credit is based on _________ concept
(A)
Periodically
(B)
Historical cost
(C)
Dual aspect
(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
Accounting entity is an ______
(A)
Accounting concept
(B)
Accounting convention
(C)
Modifying principles
(D)
All of these
Question-8
Accounting information should be made available in time comes under the principle of ______________
(A)
Conservatism
(B)
Timeliness
(C)
Prudence
(D)
None of these
Question-9
The __________ concept requires that the same accounting method should be used from one accounting period to the next
(A)
Matching concept
(B)
Dual aspect
(C)
Consistency
(D)
Objectivity
Question-10
During the life time of an entity accenting produce financial statement in accordance with which basic accounting concept
(A)
Conservation
(B)
matching
(C)
accounting period
(D)
none of these
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Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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