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

2. The basic accounting postulates are denoted by

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

4. A liability arises because of:

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

6. IASB upon coming into existence has adopted

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

8. Return Inward is the term used for:

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

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

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

12. As per Dual Aspect Concept:

13. Which of the following statements is correct:

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

15. Convention of conservatism takes into account:

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

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

18. Meaning of credibility of going concern is:

19. IFRS are:

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