The art of recording all business transactions in a systematic manner in a set of books is called ____
Anonymous Quiz
40%
Accounting
45%
Bookkeeping
10%
Ledger
6%
Accountancy
Which of the following is not a business transaction?
Anonymous Quiz
7%
Bought furniture for Rs 10,000 for business
5%
Paid for salaries of employees Rs 12,000
29%
Paid son's fees from the business Rs 2000
58%
Paid son's fees from his personal bank account Rs 8000
The Pioneer of Accounting is ___
Anonymous Quiz
10%
Arthur Field House
35%
William Pickles
10%
Gitman
45%
Lucas Pacioli
Which of the following has a credit balance?
Anonymous Quiz
17%
Carriage Inward
48%
Discount Received
19%
Bad Debts
16%
Carriage Outward
The primary feature of planning that restricts flexibility is ____
Anonymous Quiz
47%
Rigidity
14%
Continuity
31%
Decision making
9%
Coordination
A limitation of planning is __
Anonymous Quiz
16%
Focus on outcomes
11%
Facilitates control
63%
Time consuming
9%
Encourages innovation
Basic function of financial accounting is to ____
Anonymous Quiz
39%
Record all business transactions
4%
Interpret financial data
2%
Assist the management
54%
All of the above
Goodwill account is a _____
Anonymous Quiz
23%
Personal Account
35%
Nominal Account
32%
Real Account
11%
All of the above
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Which of the following equation is correct?
Anonymous Quiz
44%
Liabilities = Assets - Capital
22%
Assets = Liabilities - Capital
22%
Assets + Liabilities = Capital
11%
Capital - Liabilities = Assets
Which of the following is not a business transaction?
Anonymous Quiz
8%
Bought furniture of Rs 20,000 for business
80%
Paid son's fees from his personal bank account Rs 10,000
8%
Paid son's fee from the business Rs 5,000
4%
Paid for salaries of employees Rs 2,000
Copyright, Trademark & Patents are examples of ____
Anonymous Quiz
12%
Fixed Assets
10%
Current Assets
76%
Intangible Assets
2%
Investments