Which one of the following is not a main objective of Accounting?

(a)

Systematic recording of transactions

(b)

Ascertainment of the profitability of the business

(c)

Ascertainment of the Financial position of the business

(d)

Solving tax disputes with tax authorities

Financial position of a business is ascertained on the basis of ______.

(a)

Journal

(b)

Trial balance

(c)

Balance Sheet

(d)

Ledger

_____________has rightly been termed as the language of the business.

(a)

Accounting

(b)

Book-keeping

(c)

Accountant

(d)

None of these

_____________must be properly maintained to increase their productivity.

(a)

Liabilities

(b)

Assets

(c)

Debtors

(d)

None of these

____________of a business have to be repaid in due time.

(a)

Assets

(b)

Sales

(c)

Liabilities

(d)

None of these

Double- entry book-keeping first emerged in Italy in the ___________ century.

(a)

13^th

(b)

14^th

(c)

18^th

(d)

19^th

________________use the accounting data in their bargaining strategies with the management.

(a)

Production department

(b)

Labour unions

(c)

Tax authorities

(d)

Researchers

________________of a firm has to make innumerable routine and strategic decisions while discharging its functions.

(a)

Book-keeping

(b)

Accounts

(c)

Management

(d)

All the above

_____ ends up with the preparation of trading and profit and loss account and balance sheet.

(a)

Cost Accounting

(b)

Human Resource Accounting

(c)

Management Accounting

(d)

Financial Accounting

Accounting cycle begins with recording of business transactions and ends with the preparation of ______________

(a)

Final accounts

(b)

Cost accounts

(c)

Financial accounts

(d)

Management accounts

The activities of a business, which involve transfer of money or money's worth are called _______________

(a)

Transactions

(b)

Events

(c)

Accounting cycle

(d)

Costing

External reporting is done for __________________

(a)

Journal

(b)

Trial balance

(c)

Balance Sheet

(d)

Ledger

The famous book "Arthasastra" was written by ___________

(a)

Kautilya

(b)

Chandrakupta

(c)

Luco Pacioli

(d)

Batlibai

Who developed the double - entry book - keeping system?

(a)

Batliboi

(b)

Luco pacioli

(c)

Grewal

(d)

Gupta

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

Define accounting.

List any two functions of accounting.

Who are the parties interested in accounting information?

What do you mean by solvency and Insolvency

What is a Voucher?

Explain the meaning of accounting.

Discuss in detail the importance of accounting

Discuss the role of an accountant in the modern business world.

What is the process of accounting?

Write short notes on cash basis of accounting.

Narrate the evolution of accounting

Describe the informational needs of external users