PART-2 Write down the right answers (For Examples: 01. i) Identifying, 02. ii) A=L - OE etc.) 01. What is the first activity of accounting? i) Journalizing ii) Recording 111) Identifying iv) Communicating 02. Which of the following equation is true? i) A=L+ OE ii) A=L-OE iii) A-L = OE iv) i + iii 03. Shareholders are what type of users: i) Internal ii) External iii) Both i & ii iv) None of these 04. All of the following are assumptions except: i) Economic entity ii) Fair value iii) Going concern iv) Time period 05. Which type of accounting is for external users? i) Financial Accounting ii) Managerial Accounting iii) Both i &ii iv) None of these 06. "All assets must be recorded & will be maintained at its cost price This statement related with: i) Monetary unit Assumption ii) Economic entity Assumption iii) Fair value Principle iv) None of these 07. In accounting purpose, it is assumed that owner and business are same. (True False) 08. GAAP stands for Generally Accepted Accounting Principles. (True / False) Identify what change will occur at accounting equation? (Q. No. 9 & 10) 09. Mr. X invested Tk. 5000 in his business. i) 'A' will increase & 'OE' will decrease ii) 'A' will increase & 'L' will increase iii) 'A' will decrease & 'OE' will increase iv) 'A' will increase & 'OE' will increase 10. Mr. X withdraw cash for personal use Tk. 2000 i) 'A' will increase & 'OE' will decrease ii) 'A' will decrease & 'OE' will decrease ii) 'A' will increase & 'L' will increase iv) 'A' will increase & 'OE' will increase