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problem 1) What do you mean by Business entity concept?

problem 2) prepare down two advantages of Accounting.

problem 3) Describe the term capital and drawing.

problem 4) Distinguish between Book-keeping and Accounting.

problem 5) What do you understand by contra entry?

problem 6) What do you mean by an Account?

problem 7) Describe Accounting rule of Nominal account.

problem 8) Why sales book is prepared?

problem 9) Describe Tangible and Intangible Assets.

problem 10) State two limitations of management Accounting.

problem 11) What is meant by issue of shares at discount?

problem 12) Why capital Reserve is created?

problem 13) Why shares are forefeited?

problem 14) Distinguish between manual accounting and computerized accounting.

problem 15) Why income statement is prepared?

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