Who is considered to be the internal user of the financial information?

(a)

Creditor

(b)

Employee

(c)

Cutomer

(d)

Government

_______________is concerned with identification, quantification and reporting of investments made in human resources.

(a)

Management Accounting

(b)

Human Resource Accounting

(c)

Cost Accounting

(d)

Financial Accounting

Who is considered to be the external user of the financial information?

(a)

Employee

(b)

Owners

(c)

Management

(d)

Investors

Incapability of a person or an enterprise to pay the debts is known as ______

(a)

Solvent

(b)

Insolvency

(c)

Bad debt

As per dual aspect concept, every business transaction has___________

(a)

Three aspects

(b)

One aspect

(c)

Two Aspects

(d)

Four Aspects

Sales return book is used to record_________

(a)

Returns of goods by the customer for which cash is paid immediately

(b)

Returns of goods by the customer for which cash is not paid immediately

(c)

Returns of assets by the customer for which cash is not paid immediately

(d)

Returns of assets by the customer for which cash is paid immediately

Sinking Fund is also known as ____________

(a)

Depletion Method

(b)

Annuity method

(c)

Depreciation Fund method

(d)

None of the above

Pre-operative expenses are ______.

(a)

Revenue expenditure

(b)

Prepaid revenue expenditure

(c)

Deferred revenue expenditure

(d)

Capital expenditure

Deferred revenue expenditure is to be written off ___________

(a)

In the year in which the expenses are incurred

(b)

In the year in which the benefit of expenses are exhausted

(c)

Within 3 to 5 years

(d)

Within 5 to 10 years

Return inwards are deducted from ______

(a)

Purchase

(b)

Sales

(c)

Returns outward

(d)

Gross profit