239/2015

Maximum : 100 marks
Time : 1 hour and 15 minutes

1. Accountants ireal a business as distinct from the persons who own it. This concept is

termed as :
(ക) Business Entity Concept (லு Money Measurement Concept
(C) Going Concern Concept (D) Dual Aspect Concept

മു. The expenditure which results in the acquisition of an asset, tangible or intangible which can
later be sold or converted into cash or which results in an increase in the earning capacity of
‏ع‎ 0817088 or which affords some other advantage to the firm :

(ಗ) Revenue Expendituro (B) Capital Expenditure
)© Defered Revenue Expenditure (D) Development Expenditure

8. The assets which constantly change in value through transactions that are entered into are

called :
(4) Fixed Assets (B) Current Assets
(©) Floating Assets (D) Tangible Assets

4. The accounting practices should vemain the same from one year to another as per :
(A) Convention of consistency (B) Convention of conservatism

(0) Convention of disclosure (D) None of these

5. Retained Earningsisa:
(A) [Liability to the Management (3) Asset to the Company
(C) Liahility to the Company (D) None of these

6. The arithmetical accuracy of the accounts can be checked by preparing :
(A) Balance sheet (B) Trading Account

(0) Trial Balance (D) Profit and loss account

7. The dual aspect of accounting is ensured in the :
(ಗೆ) Double entry system (ए) Single entry system
(0 Double and single entry system (D) None of the above

A 3
[९.7.0.]