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CBSE Notes 2011-2012 » XI-Accounts

Introduction to Accounting

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.

Book-keeping and accounting are one and the same thing.

Multiple choice question

Book-keeping and accounting are one and the same thing.

Accounting is useful only to the businessman

Multiple choice question

Accounting is useful only to the businessman

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