Accounting Manager series-14 November 30, 2020December 27, 2020wefru Quiz Accounting Manager series-14 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 14 TEST YOUR SKILLS BRODLY 1 / 10 131. The going concern concept assumes that The entity continue running for foreseeable future The entity continue running until the end of accounting period The entity will close its operating in 10 years The entity can't be liquidated 2 / 10 132. Accounting principles are divided into two types. These are ______________ Accounting Standards Accounting Concepts &Accounting Conventions Accounting Concepts Accounting Conventions 3 / 10 133. Which expenses is a Capital Nature? Depreciation Wages Salary Stationary 4 / 10 134. The basic function of financial accounting is to Record all business transaction Interpret financial data Assist the management in performing function effectively none 5 / 10 135. Accounting principles are generally based on Practicability Subjectivity Convenience in recording None of these 6 / 10 136. According to the money measurement concept the following will be recorded in the books of accounts of the business Health of the managing director of the company Quality of company goods Value of plant and machinery Health of labour in factory 7 / 10 137. In case of a debt becoming bad, the amount should be credited to Debtors Accounts Bad debts a/c Sales a/c none 8 / 10 138. Accountant should follow the same principles of accounting continuously is as per which accounting convention Convention of conservatism Convention of full disclosure Convention of consistency None of these 9 / 10 139. A system in which accounting entries are made on the basis of amounts having become due for payment or receipt is called Cash concept Accrual concept Matching concept On-going concept 10 / 10 140. Debit all expenses and losses Credit all gains and income. Real a/c Personal a/c Nominal a/c None of these Your score isThe average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz