Generally Accepted Accounting Principles(GAAP) Class 11

Generally Accepted Accounting Principles (GAAP) Theory base of accounting comprises concepts, conventions, principles, rules, standards and guidelines developed, to provide uniformity and consistency to accounting records and enhance its utility, to various users of accounting information. It helps us understand the basics of accounting and also brings uniformity and consistency in the financial statements. Theory … Read more

Basic terms in Accounting Class 11

Basic Terms in Accounting  Entity: It means a reality that has a definite individual presence or existence. Business entity implies an explicitly recognizable business enterprise like Super Bazaar, Hire Jewellers, ITC Limited, and so on. An accounting framework is constantly devised for a specific business entity (additionally known as accounting entity). Transaction: An event or … Read more

Objectives of Accounting Class 11

Objectives of Accounting: As an information framework system, the essential objective of accounting is to give useful data to the interested group of users, both external and internal. The necessary data, especially in case of external users, is given in the form of financial statements, viz., profit and loss account and balance sheet. Other than … Read more

Introduction to Accounting Class 11

All organization which are driven by    profit motive perform  several transactions  of financial nature such as purchasing of goods, selling of goods, incurring expenses and receiving income etc. All organization undertake several financial transactions  such as purchase and sale of goods, incurring revenue and capital expenses and receiving revenue and capital receipts. What is … Read more

Meaning of Accounting

Meaning of Accounting: Accounting is the language of finance. It shows the financial position of the business or the firm to any individual who wants to know. It assists with translating the functions and the workings of a firm into substantial reports that can be analyzed. The American Institute of Certified Public Accountants (AICPA) in … Read more

MCQ Questions for Class 12 Accountancy

MCQ Questions for Class 12 Accountancy

Class 12th Accountancy Objective Questions with Answers MCQ Questions for Class 12 Accountancy pdf comprises of the following chapters. You can practice CBSE MCQs on Accountancy Class 12 Chapter wise by clicking the relevant part of the Syllabus. These MCQ have been made for Class 12 students to help check the concept you have learnt … Read more

Dissolution of Partnership Firm Class 12 MCQ

Dissolution of Partnership Firm Class 12 MCQ with Answer are covered in this Article. Dissolution of Partnership Firm Class 12 MCQ Test contains 20 questions. Answers to MCQ on Dissolution of Partnership Firm Class 12 MCQ Accountancy are available at the end of the last question. These MCQ have been made for Class 12 students … Read more

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