Question 2 :
The Institute of Chartered Accountants of India (ICAI) constituted the Accounting Standards Board (ASB) on _________, with a view to harmonizing the diverse accounting policies and practices in use in India.

Question 3 :
Match the following:<table class="wysiwyg-table"><tbody><tr><td>1. Small firms</td><td>a) subsidiary books system</td></tr><tr><td>2. Bigger firms</td><td>b) journal system</td></tr><tr><td>3. Basis for accounting</td><td>c) money measurement</td></tr><tr><td>4. Balance sheet</td><td>d) financial position of the business</td></tr></tbody></table>

Question 7 :
Match List-I with List-II and select the correct answer using the codes given the lists:<table class="wysiwyg-table"><tbody><tr><td>List-I(Types of accounts)</td><td>List-II(Principles)</td></tr><tr><td>I. Real Accounts</td><td>(a) Debit the receiver credit the giver</td></tr><tr><td>II. Nominal Accounts</td><td>(b) Debit what comes in credit what goes out</td></tr><tr><td>III. Personal Accounts</td><td>(c) Debit all expenses,losses credit all incomes,gains</td></tr></tbody></table>

Question 8 :
Wages paid for installation of asset should be debited ___________&#160; A/c.

Question 11 :
Withdrawal of money by the owner is not a expense but a reduction of __________.

Question 12 :
A Cheque for Rs.$10,000$ received from Ramesh, a trade debtor, should be accounted for as:<br><br><table class="wysiwyg-table"><tbody><tr><td>Debit</td><td>Credit</td></tr><tr><td>(A) Bank A/c</td><td>Ramesh A/c</td></tr><tr><td>(B) Cash A/c</td><td>Sales A/c</td></tr><tr><td>(C) Ramesh A/c</td><td>Cash A/c</td></tr><tr><td>(D) Cash A/c</td><td>Ramesh A/c</td></tr></tbody></table>

Question 14 :
The proper treatment on the bank reconciliation of a debit memorandum issued by the bank is to show it as a/an __________.

Question 16 :
An item of fixed assets which has retired from active use and is held for disposal is ______________.

Question 18 :
While preparing P/L account, rebate on bills discounted to be provided shall be deducted from discount received is ________.

Question 20 :
The number of production units expected to be obtained from the use of an asset by an enterprise is called ______________.

Question 21 :
A and B are partners having capital of Rs. 5,000 and Rs. 6,000 respectively. Interest on capital is given @ 5% p. a. Profits for the year before the appropriation is Rs. 4.600 provide interest on capital out of profits. Interest allocated to partners is:

Question 23 :
Calculate : Sales<b><br/></b>Opening Debtors Rs.5000<br/><b></b>Opening Bills Receivable Rs.2000<br/>Cash received from Debtors (including cash from bills receivable) Rs.10000<br/>Closing bills receivable Rs.1000<br/>Closing debtors Rs.8000<br/>

Question 24 :
Which preparing accounts from incomplete records, the amount of credit sales is determined by?

Question 26 :
Which of the following is an example of "Instant reportsfor management" feature provided by computerised accounting system?

Question 27 :
What are the three decisions making operations performed by the ALU of a computer?

Question 29 :
The internet has assisted in decreasing the ______ in issuing financial reports to users.