Q21.Bank account is a (1) Personal Account. (2) Real Account, (3) Nominal Account. (4) None of these. Answer Personal Account. Related Questions on Introduction to Accounting Q22.Accounting provides information on (1)Company’s tax liability for a particular year (2)Cost and income for managers (3)All of the above (4)Financial conditions of an institutions Answer All of the … Read more
Q20.Book – keeping is- (1) A science (2) An art (3) None of these. (4) An art and science both Answer An art and science both Related Questions on Introduction to Accounting Q21.Bank account is a (1) Personal Account. (2) Real Account, (3) Nominal Account. (4) None of these. Answer Personal Account. Q22.Accounting provides information … Read more
Q19.Cash, goods or assets invested by the proprietor in the business for earning profit is called- (1) Capital (2) Profit (3) None of these. (4) Fixed assets Answer Capital Related Questions on Introduction to Accounting Q20.Book – keeping is- (1) A science (2) An art (3) None of these. (4) An art and science both … Read more
Q18.Debit means (1) an increase in asset. (2) an increase in liability. (3) an increase in the proprietor’s equity. (4) a decrease in asset. Answer an increase in asset. Related Questions on Introduction to Accounting Q19.Cash, goods or assets invested by the proprietor in the business for earning profit is called- (1) Capital (2) Profit … Read more
Q17.Deepti wants to buy a building for her business today. Which of the following is the relevant data for his decision? (1) Building cost details of 2003 (2) Similar business acquired the required building in 2000 for Rs. 10,00,000 (3) Similar building cost in August, 2005 Rs. 25,00,000 (4) Building cost details of 1998 Answer … Read more