HSC Commerce: Marketing and Salesmanship 11th Standard - Maharashtra State Board Question Bank Solutions for Book Keeping and Accountancy

State whether the following statement is true or false with reasons:

Conservatism means to follow the safe side.

State whether the following statement is true or false with reasons:

The double entry system is based on “Dual Aspect” concept.

State whether the following statement is true or false with reasons:

Bank overdraft is an asset of the business.

Do you agree or disagree with the following statements :

Bills Payable is an asset of the business.

Select the most appropriate alternative from the given below and rewrite the statement.

Accounts must be honestly prepared and they must disclose all material information is known as _________.

Select the most appropriate alternative from the given below and rewrite the statement.

According to ______ cash flow statement is prepared and presented for the period for which the profit and loss account is prepared.

Complete the following sentence:

Excess of gross profit over operating expenses is______