31) The terms accounting and book keeping are classified as
(A) Same
(B) Different
(C) Opposite
(D) None of these
32) Which concept represents the assumption of long period existence of a business
(A) Dual Aspect Concept
(B) Materiality Concept
(C) Going Concern Concept
(D) Matching Concept
33) In Accounting, Owners and business are
(A) Similar entities
(B) Separate entities
(C) Dependent entities
(D) None of these
34) The science and art of correctly recording business dealing in a set of books is called
(A) Bookkeeping
(B) Accounting
(C) Auditing
(D) Recording
35) An activity under-taken for the purpose of earning profit is called
(A) Dealing
(B) Performance
(C) Business
(D) Duties
36) The paper containing evidence of payment is called
(A) Debit voucher
(B) Debit note
(C) Credit note
(D) Credit voucher
37) Any dealing between two persons or things is called
(A) Transaction
(B) Introduction
(C) Meeting
(D) Seminar
38) The term expense and expenditure are
(A) Same
(B) Different
(C) Opposite
(D) None of these