_______________is provided with a complete picture of the liquidity, profitability and solvency aspects of the business.

(a)

Accounts

(b)

Transaction

(c)

Management

(d)

Book-keeping

Financial information for managerial decision making caused emergence of ______ accounting.

(a)

Management

(b)

Cost

(c)

Financial

(d)

Corporate

The creditors are shown in the balance sheet as _______

(a)

an asset

(b)

a liability

(c)

a loss

As per dual aspect concept, every business transaction has _______

(a)

three aspects

(b)

one aspect

(c)

two aspects

Business enterprises is separate from its owner according to __________concept.

(a)

Money measurement concept 

(b)

matching concept 

(c)

Entity concept 

(d)

Dual aspect concept 

Transactions relating with individuals or firms or companies are known as _______

(a)

personal accounts

(b)

real accounts

(c)

nominal accounts

(d)

capital accounts

Capital account is classified under________.

(a)

Personal A/c

(b)

Real A/c

(c)

Nominal A/c

The preparation of trial balance is for___________

(a)

Locating errors of commission

(b)

Locating errors of principle

(c)

Locating clerical errors

(d)

All of the above

Entries in the purchases day book are made from invoices which are popularly known as _____

(a)

Invoice

(b)

Bills

(c)

Journals

(d)

Ledger

Days of grace are ______ in number.

(a)

One

(b)

Two

(c)

Three

(d)

Four