1. Book – keeping is-

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

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

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

5. The Pioneer of Accounting is:

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

7. Goodwill account is a

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

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

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

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

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

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

14. Internal users of accounting information are :

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

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

17. Accounting is the language of

18. Basic function of financial accounting is to

19. Management accounting provides valuable services to management in performing

20. Discounts received are