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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 maintenance of accounts in a systematic way is called:
Accounting
Reading
Book keeping
Auditing
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Accounting Concepts, Principles and Procedures
An in-depth examination to detect a suspected fraud in an enterprise may be termed as:
Investigation
Internal audit
Financial audit
None of these
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Accounting Concepts, Principles and Procedures
Which of the following is not a current liability?
Prepaid rent
Bank Overdraft
Creditors
Tax payable
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Accounting Concepts, Principles and Procedures
Which expenses is a Capital Nature?
Assets
Company
Books of A/c
None of these
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Accounting Concepts, Principles and Procedures
Audit report along with annual account is given by:
Government auditor
Secretarial auditor
Statutory auditor
Internal auditor
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Accounting Concepts, Principles and Procedures
Which of the following is operating revenue?
Dividend received
Sales of merchandise
Sales of machinery
None of these
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Accounting Concepts, Principles and Procedures
Contingent liability is shown due to:
Convention of materiality
Convention of full disclosure
Convention of conservatism
Dual aspect concept
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Accounting Concepts, Principles and Procedures
Vouching relates to:
Cash payments
Cash receipts
Credit transaction
All of these of these
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Accounting Concepts, Principles and Procedures
Which of the following is time span into which the total life of a business is divided for the purpose of preparing financial statements?
Fiscal year
Calendar year
Accounting period
Accrual period
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Accounting Concepts, Principles and Procedures
Sales return is also known as:
Return received
Return payed
Return inwards
Return outward
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