Introduction to Accounting Book Back Questions

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 20
    5 x 1 = 5
  1. The root of financial accounting system is _________

    (a)

    Social accounting

    (b)

    Stewardship accounting

    (c)

    Management accounting

    (d)

    Responsibility accounting

  2. Which one of the following is not a main objective of Accounting?

    (a)

    Systematic recording of transactions

    (b)

    Ascertainment of the profitability of the business

    (c)

    Ascertainment of the Financial position of the business

    (d)

    Solving tax disputes with tax authorities

  3. Which one of the following is not a branch of accounting?

    (a)

    Financial accounting

    (b)

    Management accounting

    (c)

    Human resources accounting

    (d)

    None of the above

  4. Financial position of a business is ascertained on the basis of ______________ .

    (a)

    Journal

    (b)

    Trial balance

    (c)

    Balance Sheet

    (d)

    Ledger

  5. Who is considered to be the internal user of the financial information

    (a)

    Creditor

    (b)

    Employee

    (c)

    Customer

    (d)

    Government

  6. 3 x 2 = 6
  7. What are the steps involved in the process of accounting?

  8. Who are the parties interested in accounting information?

  9. Name any two bases of recording accounting information.

  10. 3 x 3 = 9
  11. Explain the meaning of accounting

  12. Discuss in detail the importance of accounting

  13. Discuss the role of an accountant in the modern business world.

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