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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
Accounting equation is:
Assets = Capital ““ liabilities
Assets =Capital + liabilities
Assets = Capital + Liabilities
Assets = Capital × liabilities
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Accounting Concepts, Principles and Procedures
The debit balance of the personal account shows the:
Amount payable
Amount of credit sales
Amount receivable
Cash in hand
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Accounting Concepts, Principles and Procedures
Patent rights account is a :
Nominal account
Personal account
Real account
None of these
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Accounting Concepts, Principles and Procedures
The term fixed assets, does not include:
Machinery
Debtors
Fixture
Land
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Accounting Concepts, Principles and Procedures
Owners’ equity stands for:
Total Assets -Total liabilities
Total Assets + Total liabilities
Total Assets × Total liabilities
Total assets / Total liabilities
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rikazzz
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Accounting Concepts, Principles and Procedures
The remuneration of an auditor of a partnership firm is fixed by:
The partnership Act
The government
The Companies Act
None of these
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Accounting Concepts, Principles and Procedures
Who is responsible for introducing and maintaining internal control relating accounting system in a company?
Government
Manager
Auditor
Company law Board
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Accounting Concepts, Principles and Procedures
The scope of interim audit falls within the purview of:
Partial audit
Cost audit
Final audit
None of these
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Accounting Concepts, Principles and Procedures
Purchase account is a:
Personal account
Nominal account
Real account
Individual account
Author:
rikazzz
Comment
Accounting Concepts, Principles and Procedures
Internal check is a part of the whole system of:
Continuous audit
Internal control
Internal audit
Annual control
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