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

2. Goodwill account is a

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

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

5. Internal users of accounting information are :

6. Basic function of financial accounting is to

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

8. Accounting is the language of

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

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

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

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

13. Discounts received are

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

15. The Pioneer of Accounting is:

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

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

18. Book – keeping is-

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

20. Management accounting provides valuable services to management in performing