- Generally Accepted Accounting Principles
- General Accounting Assessment Principles
- Generally Applied Accountability Principles
- General Accepted Assessment Principles
- a
-
GAAP are a collection of accounting rules and standard for financial reports.
2019
All Solved Past Papers 2019 are included in this section of ETEST Academy’s Website. All Solved MCQs of 2019 of All Departments. All Posts and All Testing Services are also included in this section.
Real accounts are related with:
- Expenses and incomes
- Customers and creditors
- Assets
- None of these
- c
-
A real account is related to Assets and Liabilities for example Bank Account.
The board of directors shall appoint first auditor of a company ___________
- within one month of the commencement of the business of the company
- within one month of completion of capital subscription state of the company
- within one month of incorporation of the company
- within one month of the promotion of the company
- c
Production function refers:
- Input to output
- Cost to output
- Wages to profit
- Cost to input
- a
A shareholder in a company:
- Cannot be its debenture holder
- Can be member of board of directors
- Can be its debenture holder
- Can be liable to unlimited entry
- b
The auditor is most likely to examine related party transactions very carefully while vouching:
- Sales returns
- Credit purchases
- Credit sales
- Cash purchases
- b
Assembly language started to be used from:
- First generation computers
- Second generation computers
- Third generation computers
- Fourth generation computers
- b
-
Assembly language is a low level programming language i.e. DOS operating system.
Which of the following is the most powerful computers?
- Mini Computers
- Super Computers
- Micro Computers
- Mainframe Computer
- b
The main electronic component used in first generation computers was:
- Vacuum Tubes and Valves
- Integrated Circuits
- Transistors
- None of above
- a
-
First Generation Computer was invented between 1946-1959.
Which of the following principle deals with the valuation and recording of asset at cost?
- Matching principle
- Cost principle
- Entity principle
- Dollar currency principle
- b