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Accounting for Business Decisions ABD MCQs
5. ______ is the language of business
A. ----2....J Marketing
C. ----2....J Accounting
D. ----2....J Selling
8. Accounting ______ are the Rules of Action or the Methods and Procedures of
Accounting commonly adopted while recording Business transactions.
A. ----2....J Principles
B. ----2....J Concepts
C. ----2....J Conventions
D. ----2....J Systems
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Accounting for Business Decisions ABD MCQs
C. � Money Measurement Concept
D. � Cost Concept
10. According to _______ concept, revenue is recognized only when the sale is performed.
D. � Realization Concept
A. � Shareholders
B. � Creditors
C. � Managers
D. � Regulatory agencies
A. � Creditor
B. � Department manager
C. � Controller
D. � Treasurer
A. � Service entities
B. � Manufacturing entities
D. � All of these
14. Creating Provision against fluctuation in the price of investment is an example of which
accounting convention
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Accounting for Business Decisions ABD MCQs
A. ......z..J Convention of conservatism
15. The work of factory employees that can be physically associated with converting raw material into
finished goods is classified as-
A. ......2.J Cost
B. ......z..J Financial
C. ......z..J Management
o . ......z..J All
18. Which type of asset class includes those assets which have only definite use and become
valueless when the yield is over?
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Accounting for Business Decisions ABD MCQs
D.� Wasting asset
19. An accounting that deals with the accounting and reporting of information to management
regarding the detail information is
A. � Financial accounting
B. � Management accounting
C.� Both
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