Set 1 MCQ Questions and Answers
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1) Accounting provides information on
Answer : D Discuss
2) The long term assets that have no physical existence but are rights that have value is known as
3) The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
4) Patents, Copyrights and Trademarks are
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5) The debts which are to be repaid within a short period (year or less) are known as
6) The sales income (Credit and Cash) of a business during a given period is called
7) Any return evidence in support of a business transaction is called
8) The account that records expenses, gains and losses is
9) In Journal, the business transaction is recorded
10) The following is (are) the type(s) of Journal
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