1. During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:

2. A liability arises because of:

3. The primary qualities that make accounting information useful for decision-making are

4. The Trading and Profit and Loss Account is prepared under which attribute of accounting:

5. Convention of conservatism takes into account:

6. A concept that a business enterprise will not be sold or liquidated in the near future is known as :

7. As per Income Tax Act, accounting period is :

8. Which of the following statements is correct:

9. Which of the following limitations of accounting states that accounts may be manipulated to conceal vital information?

10. The amount drawn by businessmen for his personal use is 

11. As per Dual Aspect Concept:

12. IFRS are:

13. When information about two difference enterprises have been prepared presented in a similar manner the information exhibits the characteristic of:

14. IASB upon coming into existence has adopted

15. Meaning of credibility of going concern is:

16. In India, the accounting standard board was set up in the year-

17. Which of these is not a fundamental accounting assumption?

18. The basic accounting postulates are denoted by

19. Among the following assets, which one is fictitious asset?

20. Return Inward is the term used for: