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Accounting Equa...

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  • Question 1
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    What does GAAP represents?

  • Question 2
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    An expenditure is treated as capital nature, when it ________________.

  • Question 3
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    Amortization of intangible asset such as Goodwill which has a indefinite life is an example of accounting concept __________________.

  • Question 4
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    Creating Provision against fluctuation in the price of investment is an example of which accounting convention _________________.

  • Question 5
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    Closing stock is valued at ___________.

  • Question 6
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    Which of the following is an accounting equation?

  • Question 7
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    Qualitative transactions are not recorded in accounts due to _________.

  • Question 8
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    Contingent liability is taken due to ___________.

  • Question 9
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    The nature of financial accounting is ________.

  • Question 10
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    Match List-I with List-II and select the correct answer using the codes given the lists.

    List-IList-II
    I. Income measurement(a) Accrues to owner's equity
    II. Expense recognition(b) Revenue recognition
    III. Basis for realisation in accounting(c) Matching revenues
    IV. Recognised revenue(d) Accounting period

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