According to JR Batliboi, bookkeeping is:

Accounting is called the 'language of business' because:

Which of the following is NOT an objective of accounting?

Which of the following best distinguishes accountancy from accounting?

Who defined “Accountancy” as the theory and practice of accounting?

According to the American Accounting Association (AAA), accounting is:

Where is the headquarters of AICPA located?

In which year was the American Institute of Certified Public Accountants (AICPA) founded?

Which of the following statements best describes accounting?

From the following budget, which gives a summary of all functional budget

The difference between the balance of a fixed asset a/c and the related accumulated depreciation a/e is termed as:

Which of the following is the most important reason for studying accounting?

The balance sheet is related to the income statement in the same way that:

Which of the following results in the flow of funds?

Which account is to be prepared when revised values are not to appear in the new balance sheet framed after the retirement or death of a partner?

By-products should be valued at:

General provision for doubtful debts in case of standard assets is to be made by a banking company is

A and B are partners in a business sharing profit and loss in the ratio of 3:2 they admit a new partner C with 1/5 share in the profits. Calculate the new profit sharing ratio of the partners

General provision for doubtful debts in case of standard assets is to be made by a banking company is

A and B are partners in a business sharing profit and loss in the ratio of 3:2 they admit a new partner C with 1/5 share in the profits. Calculate the new profit sharing ratio of the partners

In hotel business room rate is fixed on the basis of

Taxation provision made by the subsidiary company will appear in consolidated balance sheet as an item of

In case of banking company the VRS expenditure is treated as

In case of insurance companies the legal fees with respect of claims is shown in

Preliminary expenses are transferred by the vendor company at the time of amalgamation to

Preliminary expenses are transferred by the vendor company at the time of amalgamation to

Divisible profit does not include

The balance of sinking fund investment a/c after the realization of investment is tranferred to

Discount allowed on reissue of forfeited shares is debited to

If vendors are issued fully paid shares of Rs.2,00,000 in consideration of net assets of Rs.1,80,000, the balance of Rs.20,000, will be debited to

Which of the following is correct

The term 'depletion' used in relation to

Balance in a petty cash book is

Provision for bad and doubtful debts is created in anticipation of actual bad debt on the basis of

Super Profit is:

Which famous case deals with the insolvency of a partner?

Discount on issue of shares is:

As per AS-14 Purchase Consideration is what is payable to:

50000 equity shares of Rs. 10 each issued at Rs. 20, for the purpose of redemption of preference share capital amounting Rs. 750000. How much amount will be transferred to capital redemption reserve?

Capital gearing ratio denotes the relationship between :

Which of the following should be deducted from the share capital to find out paid up capital?

When Statutory Reserve of the Vendor company is maintained by the Purchasing Company, then Purchasing Company gives debit to:

Surplus Account (negative balance) is transferred by the vendor company at the time of absorption to :

Net payment method is used to calculate :

When an underwriter agrees to buy a definite number of shares or debentures in addition to the shares or debentures he has to take under the underwriting agreement, it is known as:

A bill of Exchange must be

At the end of the accounting year nominal accounts are:

The debit balance in the bank column of cash book indicates:

Equity shares issued at a discount or for consideration other than cash for providing know how or making available rights in the nature of intellectual property rights or value addition are known as:

The total sum payable by the hirer under a hire purchase agreement in order to complete the purchase of or acquisition of property in the goods is known as: