1. Convention of conservatism takes into account:

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

3. Which of the following statements is correct:

4. A liability arises because of:

5. IFRS are:

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

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

8. Return Inward is the term used for:

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

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

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

12. IASB upon coming into existence has adopted

13. As per Dual Aspect Concept:

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

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

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

17. Meaning of credibility of going concern is:

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

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

20. The basic accounting postulates are denoted by