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class 11th accountancy notes
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Next quiz Saturday at 19:00
Q7/10: The process of transferring entries from the journal to the ledger is called:
Q5/10: The process of recording a transaction in the journal is called:
Q3/10: Vouchers prepared for transactions not involving cash are called:
Q2/10: Which of the following is a source document?
Q1/10: The accounting equation is based on which accounting principle?
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Next quiz Wednesday at 19:00
Q10/10: A company has an operating profit of Rs 50,000. Non-operating expenses are Rs 10,000 and non-operating incomes are Rs 5,000. Net Profit is:
Q9/10: Competency: An old machinery was sold for Rs 10k, book value was Rs 12k. Sale proceeds were wrongly credited to Sales Account. How to rectify in Final Accounts?
Q7/10: If Opening Capital is Rs 50,000, Closing Capital is Rs 60,000, Drawings are Rs 15,000, and Additional Capital is Rs 5,000, what is the Profit or Loss?
Q6/10: Competency: A business has opening stock Rs 20,000, purchases Rs 80,000, and sales Rs 1,20,000. GP margin is 25% on sales. What is the value of closing stock?
Q5/10: Assertion (A): Accrued income is shown on the asset side of the Balance Sheet. Reason (R): It is an income earned during the accounting period but not yet received.
Q4/10: What is the treatment of 'Wages and Salaries' vs 'Salaries and Wages' in final accounts?
