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

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

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

4. Return Inward is the term used for:

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

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

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

8. A liability arises because of:

9. IFRS are:

10. The basic accounting postulates are denoted by

11. Meaning of credibility of going concern is:

12. IASB upon coming into existence has adopted

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

14. Convention of conservatism takes into account:

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

16. Which of the following statements is correct:

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

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

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

20. As per Dual Aspect Concept: