Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 1

Avatto > > Company Secretary Executive Entrance Test > > PRACTICE QUESTIONS > > Fundamentals Of Accounting And Auditing > > Accounting And Auditing Section 1

56. Which of the following is not the main objective of accounting?

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Option : D
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57. An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-. What would be the effect on the total asset and total liabilities in the balance sheet?

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Option : D
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58. The rule debit all expenses and losses and credit all income and gains relates to

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Option : C
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59. Matching concept means

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Option : D
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60. Reduction in the book value of an asset over a period of time is called-

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Option : B
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Accounting And Auditing Section 1

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