13. Custom and traditions which guide the accountant while preparing the accounting statements A. Accounting convention B. Accounting concepts C. Accounting principles D. None of these 14. Balance Sheet is a statement of A Assets B. Liabilities C. Capital D. All of these 15. The convention of disclosure implies that all material information should be A. Disclosed in the account B. Disclosed in the accounts which is required to owner C. Not disclosed D. None of these Outstanding salary is shown as: 16. A. An asset in the balance sheet B. A liability C. By adjusting it in the P&L a/c D. Both a and c above E. Both b and c above 17. Proprietor (owner) is treated as creditor of business due to: A. Periodicity concept B. Materiality Principle C. Entity Concept