Questions: 1. Who invented the ‘ Double Entry Book keeping’system in accounting? 2. Who is known as the “ Father of Accounting”? 3. Double entry book keeping system invented in which year? 4. The term used for depreciating a company’s intangible assets? 5. In basic accounting, ‘Equity = Assets – …………….. 6. In which year, Bombay Stock Exchange(BSE) established? 7. Which financial statement displays the revenues and expenses of a company over a period of time? 8. The accrual basis of accounting records revenues when they are ………. 9. Liabilities accounts have what type of balance….. 10. A contra asset account has ————- type of balance 11. Goodwillis a/an ………….. asset of a company 12. What is TDS? 13. —————- accounts are the accounts which are not functional today, but may be used in future 14. A ———— is prepared when the passbook balance differs from the cash book balance 15. A system to reduce the number of credit checks on financial transaction is known as ————– 16. Which bank introduced the concept of ATM first in India? 17. The term used to indicate the situation of ‘supply of credit falls, though there is sufficient demand’ 18. Who is the ‘ Father of modern economics’? 19. The National Stock Exchange of India Ltd (NSE)is located in ………….. 20. An estimation of the revenues and expenses over a specified future period of time is known as……….. Answers: 1. LucaPacioli 2. LucaPacioli 3. 1494 4. Amortization 5. Liabilities 6. 1875 7. Income Statement 8. Earned 9. Credit 10. Credit 11. Intangible 12. Tax Deducted at Source 13. Dormant account 14. Reconciliation statement 15. Credit – netting 16. HSBC (Hongkongand Shanghai Banking Corporation), 1987, in Mumbai 17. Credit crunch 18. ;Adam Smith 19. Mumbai 20. ;Budget
Posted on: Mon, 24 Nov 2014 00:20:17 +0000
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