Accountancy class 11

Chapter 9 Final Accounts of a Proprietary Concern 1. Answer in One Sentence. Question 1. What is Trading Account? Answer: An account in which direct expenses are compared with direct…

Chapter 10 Single Entry System 1. Answer in One sentence only. Question 1. What do you mean by a Single Entry System? Answer: A system of bookkeeping in which an…

Chapter 8 Rectification of Errors 1. Answer in One Sentence: Question 1. What is meant by rectification of errors? Answer: The correction of accounting errors in a systematic manner is…

Chapter 7 Depreciation 1. Answer in One Sentence only. Question 1. What is depreciation? Answer: Depreciation is a gradual, continuous, and permanent decline or decrease in the value of a…

Chapter 6 Bank Reconciliation Statement 1. Answer in one sentence. Question 1. Who prepares a bank Pass Book? Answer: The Bank passbook is prepared by the bank. Question 2. What…

Chapter 5 Subsidiary Books Objective Type Questions & Answers 1. Answer the following questions in one sentence. Question 1. What are Subsidiary Books? Answer: Subdivision of journals on the basis…

Chapter 4 Ledger 1. Answer in one sentence only. Question 1. What is Ledger? Answer: Ledger is an important book of account in which individual records business transactions with respect…

Chapter 3 Journal 1A. Answer in One Sentence: Question 1. What is Journal? Answer: Journal is a book of account in which all types of day-to-day business transactions are recorded…

Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping 1. Answer in one sentence only. Question 1. What is a Double Entry System? Answer: A system of accounting is which…

Chapter 1 Introduction to Book Keeping and Accountancy 1. Answer in One Sentence: Question 1. What is Book-keeping? Answer: Recording the business transactions in the books of accounts systematically by…