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Theory Base of Accounting

At Saralstudy, we are providing you with the solution of Class 11th accountancy Theory Base of 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 Theory Base of Accounting so that you can prepare for the exam according to your own pace and your speed.

Generally Accepted Accounting Principles (GAAP) are the basic rules which have been generally accepted by accounting all over to the world as general guidelines for preparing the accounting statements. Accounting concepts include money measurement concept dual concept, matching concept objectivity concept etc. Accounting conventions include conventions of full disclosure, convention of consistency, convention of conservatism and convention of materiality. Double entry system of accounting is based on the principle that every business transaction is recorded in at least two accounts.

Download pdf of NCERT Solutions for Class accountancy Chapter 2 Theory Base of Accounting

Exercise 1

Exercise 2

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