1001. A proper and fair planning of expenditures helps us to ensure proper use of :

A. Our Liabilities
B. An Income *
C. Our Expeses
D. Assets

1002. The need for keeping a record of income and expenditure in a clear and systematic manner has given rise to the subject of :

A. Book keeping
B. Accounting Cycle *
C. None of the above
D. Manufacturing Cycle

1003. It is possible to increase the amount of saving through proper management and effective control of :

A. The family libilities
B. The family income *
C. The family assets
D. None of the above

1004. It is all the more necessary for an organization ora concern to keep:

A. Improper accounts
B. Proper accounts *
C. Incomplete records
D. None of the above

1005. IF proper books of accounts are not kept in a business the amount of profit :

A. Can be ascertained
B. Cannot be ascetained *
C. Easily ascertained
D. None of the above

1006. Accounting is often referred to as the language of the :

A. Business *
B. Schools
C. Daily Life
D. Information technology

1007. Accountin was developed by people who were seeking better ways to gather and report useful information about :

A. Organizations *
B. Families
C. Individual
D. Friends

1008. The act of collecting, processing, reporting,analyzing,interpreting and projecting financed information is called :

A. Economics
B. Accounting *
C. Information technology
D. Intoduction to business

1009. Accounting principles, are generally based on :

A. Practicability *
B. Subjectivity
C. Convenience in recording
D. None of the above

1010. The system of recording transactions based on duel concept is called :

A. Double account system
B. Double entry system *
C. Single entry system
D. Management system