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CBSE Notes 2011-2012 » XI-Accounts

Introduction to Accounting

Use of common unit of measurement and common format of reporting promotes.

Multiple choice question

Use of common unit of measurement and common format of reporting promotes.

Accounting involves only the recording of business transactions.

Multiple choice question

Accounting involves only the recording of business transactions.

Accounting records only those transactions and events which are of financial nature

Multiple choice question

Accounting records only those transactions and events which are of financial nature

Accounting is an art.

Multiple choice question

Accounting is an art.

Accounting means recording of transactions and events, not their interpretation.

Multiple choice question

Accounting means recording of transactions and events, not their interpretation.

Book-keeping ends where accounting starts.

Multiple choice question

Book-keeping ends where accounting starts.

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