Question

lation should be verifiable and free from pe
Name the qualitative characteristic of accounting information de
statement.
Ans. Reliability.
OBJECTIVE TYPE QUESTIONS
(A) Which of the following transactions are of financial charact
recorded in the books?
(i) Credit purchase of goods.
(ii) Strike by employees.
(iii) Goods worth 35,000 taken from the business and given by the
friend as gift.
(iv) Withdrawing of money by proprietor from business for persor
(v) Interviewing the candidates for employment.
(vi) Sale of household furniture for 2,000.
(vii) Payment of school fees of proprietor's son from proprieto
account.
(viii) Make promise to send the goods.
(ix) Receiving an order to send the goods.​

Answer 1

Answer:

Following transactions are recorded

1. credit purchase of goods

2. goods taken from business and gifted to friend

3. withdraw money from business for personal use

All other are not recorded