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Q. For every debit there will be an equal credit according to

Q. P & L a/c is prepared for a period of one year by following:

Q. Business enterprise is separate from its owner according to _____ concept.

Q. The debts which are to be repaid within a short period (a year or less) are referred to as,

Q. An accounting that deals with the accounting and reporting of information to management regarding the detail information is

Q. Small items like, pencils, pens, files, etc. are written off within a year according to _____ concept.

Q. The following is not a type of liability

Q. Accounting principles are divided into two types. These are ---

Q. The nature of financial accounting is:

Q. A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated.