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Q. What comes in is to be debited, what goes out is to be credited.

Q. Real accounts records

Q. The comparison of financial statement of one year with that of another is possible only when ------------- ---concept is followed

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.

Q. The nature of financial accounting is:

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

Q. Debit the receiver & credit the giver is _____ account.

Q. The following is not a type of liability

Q. Long term assets having no physical existence but, possessing a value are called

Q. Which accounting concept satisfy the valuation criteria?