1) Which of the following is an asset a) Land b) Building c) Plant d) All of the Above 2) Which concept states that business and entity are two persons a) Entity concept b) Cost concept c) Both 3) Unsold stock is aka a) Turnover b) Inventory c) Investment d) None 4) Which of the following is not a branch of Accounting a) Cost accounting b) Management accounting c) Financial accounting d) All of the above 5) Bank overdraft is an example of a) Current asset b) Current liability c) Fixed liability d) None

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