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Accounting Concepts, Principles and Procedures
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Accounting Concepts, Principles and Procedures
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Accounting Concepts, Principles and Procedures
The access of current assets over current liabilities is called:
Working capital
Circulating capital
Fixed capital
Trading capital
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Accounting Concepts, Principles and Procedures
How many principles are listed in AAS1 which govern auditor’s professional obligation?
Nine
Fourteen
Seven
Eight
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Accounting Concepts, Principles and Procedures
An auditor of a partnership firm is appointed as per?
Convention
Agreement
Government order
Status
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Accounting Concepts, Principles and Procedures
Balance sheet audit is useful of the concern is:
A big one
A small one
Without internal check
Weak in internal check
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Accounting Concepts, Principles and Procedures
The comparison of net profit with the sales of the same year is:
Horizontal comparison
Two-dimensional comparison
Vertical comparison
None of these
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Accounting Concepts, Principles and Procedures
Equity is equal to:
Liability ““ Capital
Assets ““ Capital
Assets + Capital
Liability + Capital
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Accounting Concepts, Principles and Procedures
Which of the following is a real account?
Debtors account
Bank account
Investment and sale
Salaries
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Accounting Concepts, Principles and Procedures
Which of the following is a control account?
Capital
Prepaid Rent
Accounts Receivable
Salary Payable
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Accounting Concepts, Principles and Procedures
What is the amount earned from the sale of goods and services called?
Growth
Revenue
Credit
Profit
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Accounting Concepts, Principles and Procedures
What kind of balance sheet makes distinctions between current and capital assets?
Classified
Gregarian
Normal
Keynesian
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