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Accounting Information Quiz

Authored by sandeep kadian

Others

11th Grade

Used 1+ times

Accounting Information Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The primary qualities that make accounting information useful for decision making are _______.

Relevance and freedom from bias

Reliability and comparability

Comparability and consistency

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount drawn by a businessman for his personal use is _______.

Capital

Drawing

Expenditure

Loss

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During a lifetime of an entity, accounting produces financial statements in accordance with which basic accounting concept?

Conservation.

Matching

Accounting period

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In India, the accounting standard board was set up in the year ______.

1972

1977

1956

1932

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A concept that a business enterprise will not be sold or liquidated in the near future is known as ________.

Going concern

Economic entity

Monetary unit

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Meaning of credibility of going concern is _______.

Closing of business

Opening of business

Continuing of business

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When information about two different enterprises has been prepared presented in a similar manner, the information exhibits the characteristics of ________.

Verifiability

Relevance

Reliability

None of the above

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