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Question
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SectionKey TermQuestion
Answer:
Introduction to AccountingAccountingAccounting is termed as the language of the ____________

     A) Indians          B) Computers  ...
C
Evolution of AccountingStewardship accountingThe root of financial accounting system is
    
A) Social accounting              
B) Stewardship ac...
B
Basic Accounting terminologiesMergerTwo or more business units forming a single entitiy is
known as -

A) Merger    B) Department    C)...
A
Objectives of AccountingAccounting - ObjectivesWhich one of the following is not a main objective of
accounting?

A) Systematic recording of tr...
D
Branches of AccountingBranches of AccountingWhich one of the following is not a branch (subfield) of
accounting?

A) Financial accounting
B...
D
Basic Accounting terminologiesBalance SheetFinancial position of a business is ascertained on the basis
of

A) Journal                      ...
C
Users of Accounting informationUsers of Fin.InformationWho is considered to be the internal user of the financial
information?

A) Creditor   B) Employee  ...
B
Accounting CycleAccountig Cycle stepsWhat is the correct order in which the Accounting
transactions and events are recorded in the Books...
C
Basic Accounting terminologiesBalance SheetA Statement showing the balances of assets and liabilities
prepared on a particular date, normally,...
B
Basic Accounting terminologiesDecision makingWhat refers to choosing a desirable course of action from
alternative courses of action?

A) Forecas...
D