Q8.In India, the accounting standard board was set up in the year- (1)1977 (2)1972 (3)1932 (4)1956 Answer 1977 Related Questions on Theory Base of Accounting Q9.Generally the duration of an Accounting period is of- (1) 3 months (2) 6 months (3) 1 month. (4) 12 months Answer 12 months Q10.Salary paid to partner should be: … Read more
Q7.The sum of Liabilities and Capital is- (1) Income (2) Expense (3) Assets. (4) Drawings Answer Assets. Related Questions on Theory Base of Accounting Q8.In India, the accounting standard board was set up in the year- (1)1977 (2)1972 (3)1932 (4)1956 Answer 1977 Q9.Generally the duration of an Accounting period is of- (1) 3 months (2) … Read more
Q6.Meaning of credibility of going concern is: (1) Opening of business (2) Closing of business (3) None of these. (4) Continuing of business Answer Continuing of business Related Questions on Theory Base of Accounting Q7.The sum of Liabilities and Capital is- (1) Income (2) Expense (3) Assets. (4) Drawings Answer Assets. Q8.In India, the accounting … Read more
Q5The amount drawn by businessmen for his personal use is- (1) Drawing (2) Capital (3) Loss. (4) Expenditure Answer Capital Related Questions on Theory Base of Accounting Q6.Meaning of credibility of going concern is: (1) Opening of business (2) Closing of business (3) None of these. (4) Continuing of business Answer Continuing of business Q7.The … Read more
Q4.As per Income Tax Act, accounting period is : (1) From 1st April to 31st March (2) From 1st January to 31st December (3) From Diwali to Diwali (4) From 1st July to 30th June Answer From 1st April to 31st March Related Questions on Theory Base of Accounting Q5The amount drawn by businessmen for … Read more