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Introduction to Accounting

At Saralstudy, we are providing you with the solution of Class 11th accountancy Introduction to Accounting according to the latest NCERT (CBSE) Book guidelines prepared by expert teachers. Here we are trying to give you a detailed answer to the questions of the entire topic of this chapter so that you can get more marks in your examinations by preparing the answers based on this lesson. We are trying our best to give you detailed answers to all the questions of all the topics of Class 11th accountancy Introduction to Accounting so that you can prepare for the exam according to your own pace and your speed.

Accounting is the process of collecting, recording, summarising and communicating financial information to its users for correct decision making. Accounting is an art as well as science. Bookkeeping is a part of accounting and mainly concerned with recording of financial data. Users of accounting information may be internal users and external users. Internal users include owners, management etc, External users include Banks and financial institutions, creditors etc. Importance accounting terms are business transactions expenses all include and income all include, profit, loss, purchase, liabilities, assets, inventory etc.

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Exercise 1

Exercise 2

Popular Questions of Class 11th accountancy