Introduction to Accounting

Front

Transactions and events that cannot be measured in money terms are not recorded in the books of accounts. It is due to Money Measurement Concept.

Back

True

Front

The system of recording transactions based on Dual Aspect Concept is known as ______.

Back

double entry system

Front

The proprietor is treated as a creditor to the extent of his capital according to: (a) Cost Concept, (b) Business Entity Concept, (c) Going Concern Concept, (d) Materiality Concept

Back

Business Entity Concept

Front

The debit balance of a personal account shows ______.

Back

amount receivable

Front

Creditors are the ______________users of accounting.

Back

External

Front

__________________ is a language of business.

Back

accounting

Front

Incomplete accounting system is called______________

Back

single entry system

Front

Management is the ________ users of accounting.

Back

internal

Front

Double entry system has two aspects_______and _________

Back

debit ,credit

Front

End product of accounting is __________and _____________of accounting.

Back

P & L account ,Balance sheet, Profit and loss account balance sheet, P & L account ,balance sheet