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Introduction to Accounting Test - 4

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Introduction to Accounting Test - 4
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The art of recording business transactions scientifically is called
  • Question 2
    1 / -0
    ___________ helps a businessman to sell the goods at a price lower than his list price and yet gain profits.
  • Question 3
    1 / -0
    Which of the following is the process of identifying, measuring, recording, classifying and analysing of financial statements?
  • Question 4
    1 / -0
    Which of the following is not an objective of accounting?
  • Question 5
    1 / -0
    Process costing comes under which of the following branches of accounting?
  • Question 6
    1 / -0
    A Pepsi hoarding that has been rented for 5 years is an example of which of the following assets?
  • Question 7
    1 / -0
    Accrual system of accounting is also known as
  • Question 8
    1 / -0
    Insurance premium for the owner's personal use should not be recorded in accounting books as per the principle of 
  • Question 9
    1 / -0
    A creditor makes a claim for compensation of Rs. 20000 against a business and the decision is pending in the court. This is an example of
  • Question 10
    1 / -0
    Profits from foreign exchange transactions are an example of
  • Question 11
    1 / -0
    Which of the following is not a fixed asset for a dealer in furniture?
  • Question 12
    1 / -0
    A person who is financially sound and is able to pay off his debt is called 
  • Question 13
    1 / -0
    A brief explanation of the business transaction for each entry passed is known as
  • Question 14
    1 / -0
    A proprietor paid college fees of his son from business. This transaction will be termed as
  • Question 15
    1 / -0
    Which of the following expenditures is a type of revenue in nature but benefit of which is not exhausted within one year?
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