Students and Teachers Forum

1. “Single entry system is a system of book- keeping in which, as a rule, the records of only cash and personal accounts are maintained. It is always incomplete double- entry system varying with circumstances.” Who gave this definition?

.....

2. The practice of book keeping was started during ______.

"700 .....

3. The practice of book keeping was started with the invention of money in ______.

"Lydia, .....

4. ______ states that every business transaction has two-fold effects.

"Dual .....

5. ______ implies that the revenue earned has to be compared with the expenses incurred in the same period to determine the true profit or loss of the business.

"Matching .....

6. ______ implies that when the fixed assets are purchased they are to be recorded in the books of accounts at their cost price.

"Cost .....

7. ______ states that revenue is assumed to be earned when goods are sold or services rendered to the customers either on cash or credit.

"Realisation .....

8. ______ implies that the total life of the business is divided into different imaginary time interval and such time interval contain 12 months for the purpose of recording and reporting the financial performance to the concerned parties.

"Accounting period .....

9. ______ states that only those transaction which can be measured and expressed in term of money are recorded in the books of accounts.

"Money measurement .....

10. ______ states that the business and its owners are two separate and distinct entities.

"Business entity .....

11. What is the full form of GAAP?

"Generally Accepted Accounting .....

12. Which one of them is the importance of seminar?

"All the options are .....

13. A seminar refers to the gathering of the ______ on a particular subject or are to share opinions and make discussions.

"all the options are .....

14. The act of confirming the decisions made in the meeting by obtaining the signatures of all the members in the minute book is called ______.

"endorsement of the .....

15. Minute should record the ______.

"all the options are .....

16. The act of writing the decisions in a minute book drawn from the meeting is known as ______.

"drafting a .....

17. ______ is established by the people of a lower income class who require different services in the field of finance, production, marketing, housing, health, and education.

"A multipurpose co- .....

18. ______ is established by farmers and small scale producers for selling their products at a fair price.

"A marketing co- .....

19. ______ is established by small scale procedures for supplying raw materials, tools, equipment and other items of production to its members.

"A producers' co- .....

20. ______ is established for selling consumer goods to its members and outsider.

"A consumers' co- .....

21. " A co-operative is an organization wherein person voluntarily associate together as human beings on the basis of equality for the promotion of the economic interest of themselves." Who gave this definition?

"Prof. E.H .....

22. Co-operative was started in Nepal in ______.

"2010 .....

23. "A co- operative is an association of the weak who gather for a common economic need and try to lift themselves from a weakness into strength through business organization." Who gave this definition?

.....

24. Co-operative was started in Nepal in ______.

"2010 .....

25. "A co- operate is a form of organization, where persons, irrespective of caste, caste and religion, voluntary associate together, as human beings, on the basis of equality for the promotion of their common economic interests." Who gave this definition?

.....

26. ______ is the form of organization which is established by the people of weaker of the society to uplift their social and economic condition.

"A co- operative .....

27. The meeting which is held between two organizations or countries is called ______.

"bi- lateral .....

28. ______ is one in which the members of more than two organizations get together to discuss on the matters of common issues and take decisions.

"A multi- lateral .....

29. ______ is the one in which only the members of a particular organization get together to discuss on the specific issues and take decisions.

"A uni- lateral .....

30. Which one of them is the example of committee meeting?

"All the options are .....

31. Which one of them is the importance of meeting?

.....

32. "A meeting is a formal gathering of related members of an organization to review its activities, performance, position and to pass resolutions." Who gave this definition?

"M. C. .....

33. A meeting is a ______ of related members of an organization with specific objectives.

"none of the options are .....

34. ______ is a very large size organization in which interested person can take participation in order to make people aware of present political, social, economical and religious issues.

"Mass .....

35. Which one of them is the importance of public enterprises?

"All the options are .....

36. Which one of them is the characteristic of public enterprises?

"State .....

37. Which one of them is the objective public enterprises?

"To decrease the revenue of the government by not paying .....

38. "Public enterprises are established, control and operated by the government to produce and supply goods and services to the society." Who gave this definition?

"A.N. .....

39. "Public enterprises are established, controlled and operated by the government to produce and supply goods and services to the society." Who gave this definition?

"A.N. .....

40. Which one of them is the disadvantage of Joint Stock Company?

"Neglect of a .....

41. Which one of them is the advantage of Joint Stock Company?

"Huge .....

42. Which one of them is not the characteristics of joint stock company?

"unlimited .....

43. "A joint stock company is an incorporated association which is an artificial person created by law having a common seal and perpetual succession." Who said this?

.....

44. "A company is an artificial person created by law having a separate entity with a perpetual succession and a common seal." WHo gave this definition?

"L.H. .....

45. A limited company can be classified into ______ types.

.....

46. A public limited company is one which requires at least ______ members for its incorporation.

.....

47. A limited company is also known as ______.

"a registered .....

48. A statutory company is also known as ______.

"a public .....

49. A limited company is a company which is established in 'Nepal under Nepal Company act, ______'.

.....

50. A company which is established under a special act passed by the parliament is known as ______.

"a statutory .....