NCERT Solutions for Class 11th accountancy covers all the questions given in the NCERT book. You can study and download these question and their solutions free from this page. These solutions are solved by our specialists at SaralStudy.com, that will assist all the students of respective boards, including CBSE, who follows NCERT; with tackling all the questions easily. We give chapter wise complete solutions for your straightforwardness.
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Chapter 1 Introduction to Accounting
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- Chapter 2 Theory Base of Accounting
- Chapter 3 Recording of Transactions - 1
Popular Questions of Class 11th accountancy
- Q:- Define accounting and state its objectives.
- Q:- When should revenue be recognised? Are there exceptions to the general rule?
- Q:-
Differentiate between source documents and vouchers.
- Q:- Complete the following work sheet:
(i) If a firm believes that some of its debtors may ′default′, it should act on this by making sure that all possible losses are recorded in the books. This is an example of the ___________ concept.
(ii) The fact that a business is separate and distinguishable from its owner is best exemplified by the ___________ concept.
(iii) Everything a firm owns, it also owns out to somebody. This co-incidence is explained by the ___________ concept.
(iv) The ___________ concept states that if straight line method of depreciation is used in one year, then it should also be used in the next year.
(v) A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increased. Normal accounting procedure is to ignore this because of the ___________.
(vi) If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.
(vii) The management of a firm is remarkably incompetent, but the firms accountants can not take this into account while preparing book of accounts because of ________ concept. - Q:- Explain the qualitative characteristics of accounting information.
- Q:- Describe the role of accounting in the modern world.
- Q:- Giving examples, explain each of the following accounting terms:
Fixed assets
Gain
Profit
Revenue
Expenses
Short-term liability
Capital - Q:-
'Accounting information should be comparable'. Do you agree with this statement? Give two reasons.
- Q:- Discuss the concept-based on the premise do not anticipate profits but provide for all losses.
- Q:- The accounting concepts and accounting standards are generally referred to as the essence of financial accounting. Comment.
Recently Viewed Questions of Class 11th accountancy
- Q:- When should revenue be recognised? Are there exceptions to the general rule?
- Q:- Explain the qualitative characteristics of accounting information.
- Q:- What is the money measurement concept? Which one factor can make it difficult to compare the monetary values of one year with the monetary values of another year?
- Q:- Should a transaction be first recorded in a journal or ledger? Why?
- Q:-
'Accounting information should be comparable'. Do you agree with this statement? Give two reasons.
- Q:- What do you mean by an asset and what are different types of assets?
- Q:- Why is the evidence provided by source documents important to accounting?
- Q:-
State the three fundamental steps in the accounting process.
- Q:- Complete the following work sheet:
(i) If a firm believes that some of its debtors may ′default′, it should act on this by making sure that all possible losses are recorded in the books. This is an example of the ___________ concept.
(ii) The fact that a business is separate and distinguishable from its owner is best exemplified by the ___________ concept.
(iii) Everything a firm owns, it also owns out to somebody. This co-incidence is explained by the ___________ concept.
(iv) The ___________ concept states that if straight line method of depreciation is used in one year, then it should also be used in the next year.
(v) A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increased. Normal accounting procedure is to ignore this because of the ___________.
(vi) If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.
(vii) The management of a firm is remarkably incompetent, but the firms accountants can not take this into account while preparing book of accounts because of ________ concept. - Q:- The role of accounting has changed over the period of time- Do you agree? Explain.