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

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

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

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

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

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

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

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

9. IFRS are:

10. Which of the following statements is correct:

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

12. As per Dual Aspect Concept:

13. Convention of conservatism takes into account:

14. Meaning of credibility of going concern is:

15. Return Inward is the term used for:

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

17. A liability arises because of:

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

19. The basic accounting postulates are denoted by

20. IASB upon coming into existence has adopted