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Accountancy
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English I
Economics
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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
The primary qualities that make accenting information useful for decision making are
(A)
Relevance and freedom from bias
(B)
Reliability and comparability
(C)
Comparability and consistency
(D)
None of the above
Question-5
The rules and guidelines used in preparing accounting reports are called
(A)
Accounting rules
(B)
Basic rules
(C)
Generally accepted accounting principles
(D)
None of these
Question-6
Dual aspect principle is also known as __________
(A)
Matching principles
(B)
Accounting equivalence concept
(C)
Cost benefit principle
(D)
None of these
Question-7
Contingent liability shown in the balance sheet is due to
(A)
Convention of full disclosure
(B)
Convention of consistency
(C)
Convention of meter ability
(D)
Dual aspect concept
Question-8
According to business entity concept the proprietor is treated as ___________ of the business to the extent of capital invested by him in the business
(A)
Debtor
(B)
Creditor
(C)
Supplier
(D)
Customer
Question-9
GAAP stands for ____________
(A)
General agreement on anticipated profits
(B)
Generally accepted accounting principles
(C)
None of these
(D)
Both of these
Question-10
Accounting principle are also called as _________
(A)
Postulates
(B)
Conventions
(C)
Assumptions
(D)
All 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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