1. Explain the concept ofaccounting equationand also give the effect of 5 transactions onaccounting equation.

2. What are various types of accounts and the golden rules of debit and credit?

3. What do you mean by ratio and what various types of activity ratio, explain?

4. What do you understand bycost accounting, what are its element and types?

5. What do you mean by variance analysis and what is its importance?