CBSE (Arts) Class 11CBSE
Share
Notifications

View all notifications
Books Shortlist
Your shortlist is empty

Question Bank Solutions for CBSE (Arts) Class 11 - CBSE - Accountancy

Login
Create free account


      Forgot password?
Subjects
Chapters
Subjects
Popular subjects
Chapters
Accountancy
< prev 1 to 5 of 5 next > 

What is meant by 'Financial Statements' of a company?

[2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Chapter: [2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Concept: Concept of Financial Statements
Appears in 1 question paper

State the objectives of 'Analysis of Financial Statements'.

[2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Chapter: [2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Concept: Concept of Financial Statements
Appears in 4 question papers

Financial Statements are prepared following the constituent accounting concepts principles procedures and also the legal environment in which the business organisation operate. These statements are the source of information on the basis of which conclusions are drawn about the profitability and financial position of a company so that their users can easily understand and use them in their economic decisions in a meaningful way.

From the above statements identify any two values that a company should observe while preparing its financial statements. Also, State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act 2013

(1) Capital Reserve
(2) Calls-in-Advance
(3) Loose Tools
(4) Bank overdraft

[2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Chapter: [2.01] Financial Statements of Sole Proprietorship: from Complete and Incomplete Records
Concept: Concept of Financial Statements
Appears in 4 question papers

Depreciation of fixed capital assets refers to :

(a) Normal wear and tear

(b) Foreseen obsolescence

(c) Normal wear and tear and foreseen obsolescence

(d) Unforeseen obsolescence.

[1.02] Accounting Process
Chapter: [1.02] Accounting Process
Concept: Meaning of Depreciation
Appears in 3 question papers

A bill drawn and accepted on 23rd November 2012 for two months will payable on __________.

a. 23rd January 2012

b. 23rd January 2013

c. 25th January 2013

d. 26th January 2013
[1.02] Accounting Process
Chapter: [1.02] Accounting Process
Concept: Important Terms of Bills of Exchange - Date of Maturity
Appears in 1 question paper
< prev 1 to 5 of 5 next > 
Question Bank Solutions for CBSE (Arts) Class 11 CBSE Accountancy. You can further filter Question Bank Solutions by subjects and chapters. Solutions for most of the questions for CBSE can be found here on Shaalaa.com. You can use these solutions to prepare for your studies and ace in exams. Solving questions is a great way to practice and with Shaalaa.com, you can answer a question and then also check your answer with the solutions provided.
S
View in app×