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  • Theory Questions

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    Aman mundey
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    This document contains 15 multiple choice theory questions about various accounting concepts. These questions cover topics such as the definition and objectives of accounting, the informational needs of external users, distinguishing between key terms like gain/profit and debtors/creditors, the accounting equation, types of cash books and trial balances, different types of errors, depreciation methods, definitions of goodwill and distinguishing between cost, management, and financial accounting.

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    This document contains 15 multiple choice theory questions about various accounting concepts. These questions cover topics such as the definition and objectives of accounting, the informational needs of external users, distinguishing between key terms like gain/profit and debtors/creditors, the accounting equation, types of cash books and trial balances, different types of errors, depreciation methods, definitions of goodwill and distinguishing between cost, management, and financial accounting.

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    © All Rights Reserved
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    7 views1 page

    Theory Questions

    Uploaded by

    Aman mundey
    This document contains 15 multiple choice theory questions about various accounting concepts. These questions cover topics such as the definition and objectives of accounting, the informational needs of external users, distinguishing between key terms like gain/profit and debtors/creditors, the accounting equation, types of cash books and trial balances, different types of errors, depreciation methods, definitions of goodwill and distinguishing between cost, management, and financial accounting.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Theory Question

    Ques 1. What is accounting? Define its objectives.


    Ques 2. Describe the informational needs of external users.
    Ques 3. Explain the meaning of gain and profit. Distinguish between these two
    terms.
    Ques 4. Distinguish between debtors and creditors.
    Ques 5. Distinguish between capital and revenue expenditure.
    Ques 6. Accounting equation remains intact under all circumstances. Justify the
    statement with the help of an example.
    Ques 7. What is cash book? Explain the types of cash book
    Ques 8. What is petty cash book? Write the advantages of petty cash book?
    Ques 9. State the meaning of a trial balance?
    Ques 10. Distinguish between errors of principle and errors of commission.
    Ques 11. Distinguish between ‘provision’ and ‘reserve
    Ques 12. Distinguish between straight line method and written down value
    method of calculating depreciation.

    Ques 13. Define goodwill and state different methods to compute the same.
    Ques 14. Distinguish between cost and management accounting.
    Ques 15. Distinguish between cost and financial accounting.

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