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CBSE
Class 11 Accountancy
Theory Base Of Accounting
Quiz 1
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Generally the duration of an Accounting period is of-
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6 months
0%
3 months
0%
12 months
0%
1 month.
Explanation
12 months
The sum of Liabilities and Capital is-
0%
Expense
0%
Income
0%
Drawings
0%
Assets.
Explanation
Assets.
In India, the accounting standard board was set up in the year-
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1972
0%
1977
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1956
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1932.
Explanation
1977
The basic accounting postulates are denoted by –
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Concepts
0%
Book – keeping
0%
Accounting standards
0%
None of these.
Explanation
Concepts
The amount drawn by businessmen for his personal use is-
0%
Capital
0%
Drawing
0%
Expenditure
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Loss.
Explanation
Drawing
Meaning of credibility of going concern is:
0%
Closing of business
0%
Opening of business
0%
Continuing of business
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None of these.
Explanation
Continuing of business
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