MABS Institution
11th Accountancy Weekly Test - 1 ( Introduction to Accounting )-Aug 2020
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What is credit transaction?
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Why are the following parties interested in accounting information?
(i) Investors
(ii) Government -
Write a note on (a) purchases, (b) sales.
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Is accounting an art or a Science?
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Write short notes on
a) Income
b) Expense
C) Revenue
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Evolution of accounting results in modern accounting approach - explain.
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Narrate the evolution of accounting
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Explain the Accounting cycle
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Describe the informational needs of external users
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What are the bases of accounting? and briefly explain it.
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Briefly explain the functions of accounting
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