1. Book of original entry is also known as ——————.
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2. The act of keeping accounting records in a systematic manner is called ——
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3. The Double Entry system records both ———– & ———- aspects of a business transaction.
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4. The receiving aspect of a transaction is —————
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5. The golden rule for the Nominal account is ————–
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6. According to ————– principle a business is treated as a separate entity that is distinct from its owner
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7. According to ————– principle only those transactions which are capable of being expressed in terms of money are included in the accounting records
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8. According to ————- principle the enterprise is normally viewed as a going concern that is, ontinuing in operation for the foreseeable future.
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9. The Going concern concept is also known as ————-
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10. According to —————- principle revenues and costs are recogni zed as they are earned or incurred
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11. The giving aspect of a transaction is ————–
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12. The language of the Business is ——————
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13. ———– is a document which serves as an evidence of a transaction —————–
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14. ————— is the record made in the books of accounts in respect of a transaction or event
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15. Father of Double Entry of Book Keeping is ————-
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16. Double Entry of Book Keeping was introduced in the year ———–
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17. The most important branches of Accounting are ——————-
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18. Under the Companies Act 1956, as companies are required to maintain the books of accounts according to ———- basis of accounting.
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19. The basic object of Accounting is ——————
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20. Accounting Standard- 1 deals with ————–
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21. Journal is also called as ———– & ————–
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22. The process of recording a transaction in the journal is called —————–
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23. An entry made in the journal is called a —————
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24. ———— is a principal book which contains all the accounts
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25. —————- is the Book of Final Entry
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26. ———– & ———– are the basic financial statements.
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27. Trading, Profit and Loss account shows —————- of the firm
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28. Balance Sheet shows ————— of the firm.
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29. Trading, Profit and Loss account is prepared ————–
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30. Balance Sheet is prepared ——————-.
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31. ——————– is an establishment for the conduct of trade and commerce.
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32. The owner of the business is called as ——————
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33. The amount invested by the proprietor in the business is —————-.
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34. —————— is the value of cash or goods withdrawn from the business by the owner
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35. The commodities, articles or things in which a trader deals are ————.
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36. The person who owes money to the business is ————
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37. The person to whom the business owes money is ————
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38. The proprieties or things owned by a business are ———–
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39. The assets which cannot be seen and touched are known as ———– —–
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40. Goodwill, Patents, Trade Marks etc. are ————— assets
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41. The assets which can be convertible into cash within one year are ————- assets
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42. Cash, Bank, Debtors, Stock, and Bills Receivable etc. are ———–assets.
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43. Assets which are held with the business for a long time are ———
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44. Accounting Standard – 6 deals with ——————–
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45. What is the Accounting equation ————-
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46. Which financial statement represents the accounting equation —————-
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47. As per Traditional Classification of Accounts, accounts can be classified into ————-
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48. Accounts related to individuals and a firm is —————–
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49. An account related to assets is —————–
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50. Accounts related to expenses, losses, incomes and gains is ———
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