1. Cash, goods or assets invested by the proprietor in the business for earning profit is called-

2. Which of the following limitations of accounting states that accounts may be manipulated to conceal vital facts :

3. Book – keeping is-

4. Which of the following is not a business transaction?

5. Goodwill account is a

6. Out of the following assets, which one is not an intangible asset?

7. Which of the following accounts has a credit balance?

8. Use of common unit of measurement and common format of reporting promotes

9. The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –

10. The Pioneer of Accounting is:

11. Internal users of accounting information are :

12. Basic function of financial accounting is to

13. The art of recording all business transactions in a systematic manner in a set of books is called-

14. The unsold merchandise of business on particular day is called

15. Accounting is the language of

16. Which of the following will not be recorded in the books of account?

17. Which is the last step of accounting as a process of information?

18. Which qualitative characteristics of accounting information is reflected when accounting information is clearly presented?

19. Discounts received are

20. Management accounting provides valuable services to management in performing