Art & Commerce - Second Paper
This paper contains 25 questions. All questions are compulsory. Each question carry 2 marks. Max. time to complete this paper is 30 minutes.
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1. Accounting provides  information  on *
2. The  long  term  assets   that  have  no physical  existence  but are  rights  that  have  value is  known  as *
3. The assets that can be converted   into cash   within a short period (i.e. 1 year or less) are known as *
4. Patents, Copyrights  and Trademarks are *
5. The following is not type of liability *
6. The  liabilities  that  are payable  in  more  than  a year  and are not  be  liquidated  from current  assets *
7. The debts, which are  to be repaid  within  a short  period (year  or  less) are known  as   *
8. The  sales  income  (Credit  and  Cash) of  a  business  during  a  given  period  is  called *
9. Any written evidence   in support of a business transaction is called *
10. The accounts that records expenses, gains and losses are *
11. Real  accounts  records *
12. The  cost  that  tends  to  remain constant irrespective of  the  level  of activity  is called *
13. Cost Accounting  restrict  itself  with _    transactions *
14. Following  is  (are)  the  method (S)  of  measuring  labour  turnover. *
15. Following is (are) the example (s) of semi- variable overheads. *
16. ___________ indicates  the  financial  status  of  the  business at  given  period. *
17. In cash  budget,  Non  operating  cash  inflow  include (s) *
18. Sales Budget is a forecast expressed in *
19. "LIFO" stands for *
20. Following  is  used  as  tool  for  cost control *
21. Cost  accounting  differs  from  financial   accounting  in respect  of *
22. Demand  is determined  by *
23. When  a  firm's  average  revenue  is  equal   to  its  average  cost , it  gets- *
24. The cost recorded  in  the  books  of  accounts  are  considered  as *
25. Managerial  economics generally  refers  to  the  integration  of  economic  theory  with  business *
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