1. Accounting is the language of

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

3. The Pioneer of Accounting is:

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

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

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

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

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

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

10. Goodwill account is a

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

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

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

14. Basic function of financial accounting is to

15. Management accounting provides valuable services to management in performing

16. Internal users of accounting information are :

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

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

19. Book – keeping is-

20. Discounts received are