Adaptive Practice
Introduction to Accounting
10 questions • Earn up to 101 XP • First attempt — go for 100%!
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Question 1 of 10
⏱ 0:30
Easy
What is the primary objective of accounting?
Easy
Which of the following is NOT an accounting equation?
Medium
Which accounting concept assumes that the business will continue to operate indefinitely?
Medium
In Indian accounting, which of the following is considered a 'real account'?
Easy
According to the dual aspect concept, every transaction affects:
Medium
Which of the following transactions will NOT affect the capital of the business?
Easy
If a business has assets worth ₹5,00,000 and liabilities worth ₹3,00,000, what is the owner's equity?
Medium
Which accounting principle requires expenses to be matched with the revenues of the same accounting period?
Medium
In the context of Indian accounting, which of the following is an example of a nominal account?
Hard
Which of the following best describes the 'Consistency Concept' in accounting?