1011. No accounting is possible for an event or transaction which is not measurable terms of :

A. Money *
B. Goods
C. Units
D. Ethical Values

1012. The stage under which transaction are recorded chronologically in the books of accounts is called :

A. Summarizing
B. Classifying
C. Recordings *
D. None of the above

1013. The stage under which the transaction of the same or similar nature are classified and recorded separately is known as :

A. Classifying *
B. Recording
C. Interpretation
D. None of the above

1014. The stage under which all necessary dates and information’s are summarized on the basis of classified record of transactions and communicated to management and other interested persons is called as :

A. Recording
B. Summarizing*
C. Interpretation
D. None of the above

1015. Book-keeping is mainly concerned with :

A. Recording financial information about business transactions *
B. Designing the systems for recording, categorizing, and summarizing the recorded data
C. Interpreting the data for both internal and external users
D. None of the above

1016. The Prime function of accounting is to :

A. Record economics data
B. Provide the informational basis for action
C. Classifying and recording business transaction *
D. None of the above

1017. Management accounting provides invaluable services to management in performing:

A. All management functions *
B. Controlling functions
C. Coordinating management functions
D. None of the above

1018. In double entry system of book keeping every business transaction affects :

A. The account’s debit or credit side
B. Two accounts *
C. The same account on the same side
D. None of the above

1019. Any dealing between two persons or things is a :

A. Transaction *
B. Introduction
C. Meeting
D. Seminar

1020. When cash is paid or received as a result of an exchange , the transaction is said to be a :

A. Sale transaction
B. Cash transaction *
C. Credit transaction
D. None of the above