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Which is not the default group in Tally?
Suspense Account
Outstanding Expenses
Sales Account
Investment
SHOW ANSWERNatural gas is a ________________________
Non GST Goods
GST Goods
Both A and B
None of the above
SHOW ANSWER________is an order placed by a customer for the delivery of specified goods at a given price and at a predetermined time.
Purchase order
Job order
Sales order
Job Work Out Order
SHOW ANSWER_________are special journals that are automatically reversed after a specified date.
Transfer journal
Manufacturing journal
Stock journal
Reversing journal
SHOW ANSWER“The owners of a business enterprise can reply on the regularity with which the reporting of financial information takes place.” – Which accounting concept does this statement refer to?
Separate Entity Concept
Going Concern Concept
Cost Concept Dual Aspect Concept
Periodicity Concept
SHOW ANSWERUnder which accounting concept can a company sue a debtor?
Going Concern Concept
Legal Aspect Concept
Separate Entity Concept
Accrual Concept
SHOW ANSWERAnand, an accountant at a company, recorded the cost of land purchased in the year 2013 for Rs. 50 lakh as Rs. 80000 in 2016, as he felt that it is the current market price. Which accounting concept did Anand violate?
Going Concern Concept
Cost Concept
Dual Aspect Concept
Periodicity Concept
SHOW ANSWERThe _________is the recording and measurement rule that provides the basis for double entry system of book- keeping
Dual aspect concept
Going Concern Concept
Cost Concept
Accrual Concept
SHOW ANSWERThe practice of considering bad and doubtful debts in the book of accounts before ascertaining the profit is based on the convention of __________
Consistency
Full Disclosure
Conservation
Materiality
SHOW ANSWER
