ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                         PART-A
                                                                  Brief Questions
                                                                         4th part

25.When did IASC formed?
Ans:1973.

26.How many accounting standards are received by Bangladesh?
Ans:20.

27. How many accounting standards so far published by IASC?
Ans:41.

28.How many institutions for accounting professionals in Bangladesh?
Ans:2.
(1)ICMAB(Institute of Cost & Management Accountants of Bangladesh)
(2)ICAB(Institute of Chartered Accountants of Bangladesh)

29.How many types of organization according to nature of business.
Ans:3
(1) Service Providing concern.
(2)Merchandising concern.
(3)Manufacturing concern.

30.What are the account that maintained by a non-profit organization ?
Ans:(1) Receipts and Payments Account.
       (2)Income and Expenditure Account
       (3)Balance Sheet

31.Which one of the following is not any branch of Accounting ?
(a)Financial Accounting.
(b)Government Accounting
(c)Political Science. (ans)
(d)Auditing.

32.Which of the following is not a step in accounting process?
Ans:(a)Identification
       (b)Verification (ans)
       (c)Recording
       (d)Communication.