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

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

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

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

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

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

7. Which of the following statements is correct:

8. The basic accounting postulates are denoted by

9. IASB upon coming into existence has adopted

10. Return Inward is the term used for:

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

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

13. A liability arises because of:

14. Meaning of credibility of going concern is:

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

16. IFRS are:

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

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

19. As per Dual Aspect Concept:

20. Convention of conservatism takes into account: