Accounting Manager series-11 November 30, 2020December 27, 2020wefru Quiz Accounting Manager series-11 quiz you are applying for a job / interview / Competitive Exams RBB, SSC, MBA, B.Com, BBA Enterence exams Solving quiz you will prepare yourself.. 0 Created on November 29, 2020 By wefru Manager Series 11 TEST YOUR SKILLS BRODLY 1 / 10 101. Which of the following is time span into which the total life of a business is divided for the purpose of preparing financial statements? Fiscal year Calendar year Accounting period Accrual period 2 / 10 102. If the total assets of the company amount to Rs 1,50,000 and owner’s equity is Rs 70,000,the amount of liabilities will be Rs 70,000 Rs 80,000 Rs 90,000 Rs 1,00,000 3 / 10 103. The system of recording transaction based on dual aspect concept is called Double account system Double entry system Single entry system None of these 4 / 10 104. The convention of conservatism is applicable In providing for discount on creditors In making provision for bad doubtful debts Providing depreciation None of these 5 / 10 105. Rules of action or conduct adopted by the accountants universally while recording accounting transaction Accounting convention Accounting concepts Accounting principles None of these 6 / 10 106. Which of the following items would not fall under the definition of an asset? Land Machine Cash Milk 7 / 10 107. Basic assumptions or conditions upon which the science of accounting is based. Accounting convention Accounting concepts Accounting principles None of these. 8 / 10 108. Which of the following is time span into which the total life of a business is divided for the purpose of preparing financial statements? Fiscal year Calendar year Accounting period Accrual period 9 / 10 109. The system of recording based on dual aspect concept is called: Double account system Double entry system Single entry system All the above 10 / 10 110. Preliminary expenses are recorded in ______________ Equity and liabilities-Liability side of B/S Current liabilities- Liability side of B/S Fixed assets- Asset side of B/S Asset side of B/S Your score isThe average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz