Advance Accounting and Auditing

Incorportion

Integration

Amalgamation

Promotion

Cash

Creditors

Accounts payable

Salaries Expense

Closing entries are made before adjusting entries

Closing entries are made after the adjusting entries

Adjusting entries are made after financial statement are prepared

Financial statements are prepared after closing trial balance

Same in Nature

Different in Nature

Opposite in Nature

None of these

Rs.80,000

Rs.100,00

Fatally exempt

Totally taxable

Rolling Budget

Functional Budget

Flexible Budget

Master Budget

Cost of feasibility report

Legal expenses of income tax appeal

Cost of issuance of additional capital

None of these

Demand always exceeds supply

Barer cannot work properly

Competition in encouraged

Buyers and sellers are different people

Rs.40

Rs.80

Rs.24

Rs.16

It is a separate legal entity

It has a limited life

Income that is distributed to owners is usually taxed twice

Ownership rights can be easily transferred