Conceptual Framework of Accounting Important Questions

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50
    6 x 1 = 6
  1. The business is liable to the proprietor of the business in respect of capital introduced by the person according to

    (a)

    Money measurement concept

    (b)

    Cost concept

    (c)

    Business entity concept

    (d)

    Dual aspect concept

  2. The profounder of double entry system of book-keeping is

    (a)

    J. R. Batlibai

    (b)

    Luca Pacioli

    (c)

    Old Kesal

    (d)

    Menhar

  3. Which of the following does not follow dual aspect concept?

    (a)

    Increase in one asset and decrease in other asset

    (b)

    Increase in both asset liability

    (c)

    Decrease in one asset and decrease in other asset

    (d)

    Increase in one asset and increase in capital

  4. ___________ is the process of recording business transactions in the books of accounts in a systematic way.

    (a)

    book keeping

    (b)

    Accountancy

    (c)

    Statistics

    (d)

    none of these

  5. When money came into existence, ____________ activities involving money also flourished along with it.

    (a)

    science

    (b)

    economic

    (c)

    commerce

    (d)

    business

  6. ___________ involves recording business transactions of financial nature in the books of accounts.

    (a)

    Balance Sheet

    (b)

    Trial balance

    (c)

    book keeping

    (d)

    All the above

  7. 4 x 1 = 4
  8. ASB

  9. (1)

    Systematic knowledge

  10. Accountancy

  11. (2)

    Accounting Standards Board

  12. Book Keeping

  13. (3)

    Primary stage

  14. Accounting cycle

  15. (4)

    Collective process

    7 x 2 = 14
  16. Define Book Keeping.

  17. What is meant by accounting concepts?

  18. Briefly explain about revenue recognition concept.

  19. What is Accounting

  20. What is Accountancy

  21. What do you mean by Accounting Cycle

  22. Explain the various accounting assumptions

  23. 7 x 3 = 21
  24. "Business units last indefinitely". Mention and explain the concept on which the statement is based.

  25. Write a brief note on Accounting Standards.

  26. What are the limitations of Book keeping

  27. What do you mean by IFRS?

  28. What are the basic concepts of accounting?

  29. What are advantages of book-keeping?

  30. Briefly explain the relationship among accounting, accountancy and book-keeping.

  31. 1 x 5 = 5
  32. Explain the meaning of Book-keeping and its features

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