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Accounting -an Introduction — Practice Quiz

Telangana Open School (TOSS) · Class 12 · Accountancy

Try a 4-question quiz on Accounting -an Introduction for Telangana Open School (TOSS) Class 12 Accountancy: tap an answer to check it and see why.

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Quick Quiz: Accounting -an Introduction

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Tap an answer to check it instantly. No sign-up needed for these 4.

1

What is the primary purpose of book-keeping?

2

Which of the following is NOT a branch of accounting?

3

Accounting is often called the:

4

Which concept assumes that a business will continue indefinitely?

45 Questions·
multiple choicemultiple correcttrue false

Sample Questions

1multiple choice
1 marks

Which of the following is recorded in the books of accounts?

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Purchase of machinery

Only transactions measurable in monetary terms are recorded. The purchase of machinery has a monetary value and thus is recorded.

2multiple choice
1 marks

Who defined accounting as 'the process of identifying, measuring, recording and communicating'?

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American Accounting Association

The American Accounting Association defined accounting as the process of identifying, measuring, recording, and communicating economic events.

3multiple choice
1 marks

Which of the following is a limitation of accounting?

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Ignores non-monetary events

Accounting only records transactions that can be expressed in monetary terms, so non-financial aspects like employee morale are not included.

4multiple choice
1 marks

Fixed assets are recorded at:

Show answer

Historical cost

According to the cost concept, fixed assets are recorded at their original purchase price including all related expenses like transportation and installation.

+41 more questions on Accounting -an Introduction (Telangana Open School (TOSS) Class 12 Accountancy)

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Frequently Asked Questions

What are the important topics in Accounting -an Introduction for Telangana Open School (TOSS) Class 12 Accountancy?
Key topics in Accounting -an Introduction include Book-keeping vs Accounting, Branches of Accounting, Objectives and Functions of Financial Accounting, Advantages and Limitations of Accounting. Study these first, then practise questions on each for the Telangana Open School (TOSS) Class 12 board exam.
How many practice questions are there for Accounting -an Introduction?
There are 45 questions on Accounting -an Introduction. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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