Question

Match the following pairs.

a) Current Asset i) Branch of accounting
b) Tally ERP 9.0 ii) Primary book
c) Management Accounting iii) Accounting software
d) Journal iv) Intangible asset
e) Goodwill v) Cash and stock
a) a-ii, b-iii, c-i, d-iv, e-v
b) a-i, b-iii, c-v, d-ii, e-iv
c) a-iii, b-ii, c-i, d-iv, e-v
d) a-v, b-ii, c-i, d-iii, e-iv

Answer 1

The correct matches for the pairs are: Current Asset (a) to Cash and stock (v), Tally ERP 9.0 (b) to Accounting software (iii), Management Accounting (c) to Branch of accounting (i), Journal (d) to Primary book (ii), and Goodwill (e) to Intangible asset (iv).

Step-by-step explanation:

The correct match for the given pairs is option (b): a-v, b-iii, c-i, d-ii, e-iv. This means:

• (a) Current Asset is matched with (v) Cash and stock, which refers to items on the balance sheet that are considered to be highly liquid and can be quickly converted to cash within a year.
• (b) Tally ERP 9.0 is matched with (iii) Accounting software, which is a tool used for bookkeeping, preparing financial statements, and other accounting functions.
• (c) Management Accounting is matched with (i) Branch of accounting, focused on providing financial information within a company for decision-making.
• (d) Journal is matched with (ii) Primary book, which is where financial transactions are initially recorded using double-entry bookkeeping before they are posted to ledger accounts.
• (e) Goodwill is matched with (iv) Intangible asset, which represents the excess value of a company over its identifiable tangible and intangible assets.