1. Use of common unit of measurement and common format of reporting promotes

2. Which is the last step of accounting as a process of information?

3. Which of the following is not a business transaction?

4. Accounting is the language of

5. Which of the following accounts has a credit balance?

6. Which of the following will not be recorded in the books of account?

7. Discounts received are

8. Internal users of accounting information are :

9. The Pioneer of Accounting is:

10. Basic function of financial accounting is to

11. Which of the following limitations of accounting states that accounts may be manipulated to conceal vital facts :

12. The art of recording all business transactions in a systematic manner in a set of books is called-

13. Out of the following assets, which one is not an intangible asset?

14. Cash, goods or assets invested by the proprietor in the business for earning profit is called-

15. Management accounting provides valuable services to management in performing

16. Which qualitative characteristics of accounting information is reflected when accounting information is clearly presented?

17. Goodwill account is a

18. The process of recording, classifying and summarizing all business transactions in order to know the financial result is called –

19. The unsold merchandise of business on particular day is called

20. Book – keeping is-