_______________is provided with a complete picture of the liquidity, profitability and solvency aspects of the business.

(a)

Accounts

(b)

Transaction

(c)

Management

(d)

Book-keeping

Accounting gives information on _________

(a)

The resources available

(b)

how the available resources have been employed

(c)

the results achieved by their use

(d)

All of the above

The business is liable to the proprietor of the business in respect of capital introduced by the person according to

(a)

Money measurement concept

(b)

Cost concept

(c)

Business entity concept

(d)

Dual aspect concept

The word ___________ refers to traditions or customs.

(a)

Accounting

(b)

Book keeping

(c)

Convention

(d)

None of these

A list which contains balances of accounts to know whether the debit and credit balances are matched is _______

(a)

Journal

(b)

Day book

(c)

Trial balance

(d)

Balance sheet

The first step is recording the business transactions in ____________.

(a)

Subsidiary Books/Journal

(b)

Ledger

(c)

Balance Sheet

(d)

Trial balance

_____ in duplicate is prepared in the name of the buyer when goods are returned

(a)

Credit note

(b)

Debit note

(c)

Both 'a' and 'b'

(d)

None of these

On 1^st January, 2018, Kumar draws a bill on Ramar for 3 months, its due date is _________

(a)

4^th April, 2018

(b)

1^st April, 2018

(c)

31^st March, 2018

(d)

1^st March, 2018

Residual value of an asset means the amount that it can fetch on sale at the ________of its useful life.

(a)

Beginning

(b)

End

(c)

Middle

(d)

None

Interest on bank deposits is ______.

(a)

Capital receipt

(b)

Revenue receipt

(c)

Capital expenditures

(d)

Revenue expenditures

Expand CAS ________

(a)

Common Application Software

(b)

Computerised Accounting System

(c)

Centralised Accounting System

(d)

Certified Accounting System

'Accounting is useful only to the owner of the business' - Do you agree?

Who is Public Relation Officer? (PRO)

What is Accountancy

Is it possible for him to compare his business results with that of his competitors?

State whether the balance of each of the following accounts should be placed in the debit or the Credit column of the trial balance.
1) Bills receivable
2) Opening Stock
3) Land and Building
4) Goodwill
5) Carriage outwards
6) Electricity Charges
7) Reserve Fund
8) Provision for Bad Debts.

Distinguish between sales book and sales account.

What are grace days?

List out the various methods of depreciation.

What is annuity method?

From the following information, calculate the amount of depreciation and rate of depreciation under straight line method.
Purchase price of machine Rs.2,00,000
Expenses to be capitalised Rs.50,000
Estimated residual value Rs.15,000
Expected useful life 5 years

State with reasons whether the following are capital or revenue or deferred revenue expenditure:
i) Advertisement expenses amounted to Rs.10 crores to introduce a new product.
ii) Expenses on freight for purchasing new machinery.
iii) Freight and insurance on the new machinery and cartage paid to bring the new machinery to the factory.

What is meant by deferred revenue expenditure?

What is hardware?

Why are the following parties interested in accounting information?
(i) Investors
(ii) Government

What is the difference between cash transaction and credit transactions?

Write a brief note on Accounting Standards.

What is the need for accounting standards?

What are the limitations of trial balance?

State the various types of coding methods.