1) Accounting cycle means a) Journal, Ledger, Trial Balance, Final account b) Final account, ledger, trial balance 2) ACCOUNTING PROCESS MEANS a) PROCESS, OUTPUT b) INPUT PROCESS AND OUTPUT 3) Systematic process of recording, measuring and communicating information is known as a) book keeping b) accounting 4) Which is the second stage of accounting a) accounting b) book keeping 5) AICPA MEANS a) American institute of certified public accountant b) american institute of chartered public accountant 6) Assets that have no physical existence seen and touched are known as a) Tangible assets b) Intangible assets 7) CREDITORS ARE SHOWN IN WHICH SIDE OF BALANCE SHEET a) LIABILITIES b) ASSETS 8) ACCOUNTING CONSIDERS WHICH TRANSACTION a) MONETARY/FINANCIAL b) NON FINANCIAL 9) OWNER TAKES GOODS OR CASH OUT OF THE BUSINESS IS KNOWN AS a) CAPITAL b) DRAWING 10) OWNER PUT MONEY INTO THE BUSINESS WHICH IS KNOWN AS a) CAPITAL b) PURCHASE 11) DIFFERENCE BETWEEN REVENUE AND EXPENSE IS KNOWN AS a) INCOME b) EXPENSES

BOOK KEEPING

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