- (A) Future economic benefits for the business
- (B) All kind of benefits for the business
- (C) Expenses for the business
- (D) Merits and Demerits for the business
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- (A) Partnership
- (B) Sole proprietorship
- (C) Company
- (D) Non-profit organization
- (A) They are mainly prepared for external users of financial information
- (B) They are more complex and hard to prepare
- (C) The are the summary of accounting data
- (D) The are prepared on basis of actual concept
- (A) Recording
- (B) Transferring
- (C) Posting
- (D) Entry making
- (A) Rent expenses account
- (B) Rent income account
- (C) insurance expenses account
- (D) Cash account
- (A) Machinery account
- (B) Building account
- (C) Creditors account
- (D) Rent expenses account
- (A) Recording entries in journal
- (B) Recording entries in Ledger account
- (C) Recording two aspects of every transaction
- (D) Recording every transaction in books
- (A) Expenses are greater than Income
- (B) Expenses are less than Income
- (C) Expenses=Income
- (D) Liabilities are greater than income
- (A) Depreciation
- (B) Drawings
- (C) Outflow of cash
- (D) Appreciation
- (A) Cash and cash equivalent
- (B) Creditors
- (C) Notes payable
- (D) Bank loan
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