Question

1. The root of financial accounting system is
a. Social accounting
b. Management accounting
c. Stewardship accounting
d. Responsibility accounting
2. The concept which assumes that a business will last indefinitely is
a. Business Entity
b. Going concern
c. Periodicity
d. Conservatism
3. According to which principle the same accounting methods should be used
oach year:
3. Prudenco
b. Full disclosure
c. Materiality
d. Consistoncy
4.Financial position of a business is ascertained on the basis of
a. Journal
b. Balance sheet
c. Trial Balance
d. Ledger​

Answer 1

Answer:

a, a, c, b...................

Answer 2

Explanation:

1.A

2.A

3.C

4.B

is the correct answer