Multiple Choice
All the transactions measurable in the terms of money are recorded in accounts is according to
A) business entity concept
B) going concern concept
C) money measurement concept
D) accounting period concept
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Interest earned is a<br>A)personal account<br>B)real account<br>C)nominal account<br>D)representative
Q3: In profit and loss account, if credit
Q4: All revenue incomes are credited to<br>A)manufacturing account<br>B)trading
Q5: Interpretation means<br>A)explanation of meaning and significance of
Q6: _ is root cause for financial accounting<br>A)stewardship
Q7: In income measurement & recognisation of assets
Q8: Dividing the expenditure into capital and revenue
Q9: Which of the following is incorrect?<br>A)good will
Q10: The process of recording financial data upto
Q11: Profit and loss account is a<br>A)personal account<br>B)real