ACCOUNTING-THE LANGUAGE OF BUSINESS

                                                                        PART-A
                                                                    Brief Questions
                                                                         3rd Part


17.Who are the certified accountant?
Ans: Public Accountant.

18."Accounting is the language of business"--- true/false.
Ans:True.

19.Recording of transactions is a important object of___________
Ans:Accounting.

20.What art the major three divisions of accounting?
Ans:1.Financial Accounting.
       2.Cost Accounting.
       3.Management Accounting.

21.When sandilands committee was formed?
Ans:1 December in 1973.

22.When did sandilands committee published a report containing various problems of Accounting?
Ans:25 June in 1975.

23.Elabrate the following: (1)AICPA (2)AAA (3)FASB
Ans: (1)AICPA= American Institute of Certified Public Accountants.
        (2)AAA= American Accounting Association.
        (3)FASB= Financial Accounting Standard Board.

24.What is the elabrate of IASC?
Ans: International Accounting Standard Committee.