Accounting for Partnership Firms Basic concepts Part -2

Accounting for Partnership Firms Basic concepts Part -2

12th Grade

8 Qs

quiz-placeholder

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Accounting for Partnership Firms Basic concepts Part -2

Accounting for Partnership Firms Basic concepts Part -2

Assessment

Quiz

Business

12th Grade

Hard

Created by

p2l iitm

Used 2+ times

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8 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The users of accounting are _________​ and external.

2.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

Accounting records all the transactions which can be expressed ________________.

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The creditors are interested to know the ________of the business.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The main purpose of_____________ and accounting is to furnish the necessary financial data to the persons interested in the business.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

_____________________ refers to the recording of daily business financial transaction.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The accounting which provides the necessary information to the management is called _____________________.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Every financial transaction of the business has ___________ and recorded at two places.

8.

FILL IN THE BLANK QUESTION

1 min • 1 pt

___________________________ enables the comparison of the profi t or performance of a business in a year with the performance of another year.