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

2. Goodwill account is a

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

4. Management accounting provides valuable services to management in performing

5. Accounting is the language of

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

7. Internal users of accounting information are :

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

9. Basic function of financial accounting is to

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

11. The Pioneer of Accounting is:

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

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

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

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

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

17. Book – keeping is-

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

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

20. Discounts received are