1. Convention of conservatism takes into account:

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

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

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

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

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

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

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

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

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

11. IASB upon coming into existence has adopted

12. IFRS are:

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

14. Return Inward is the term used for:

15. The basic accounting postulates are denoted by

16. As per Dual Aspect Concept:

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

18. Meaning of credibility of going concern is:

19. A liability arises because of:

20. Which of the following statements is correct: