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Home /Doubts and Solutions/CBSE/Class 11 Commerce/Accountancy Part I/Theory Base Of Accounting/Need For Theory Base Of Accounting And Its Assumptions

Need For Theory Base Of Accounting And Its Assumptions Free Doubts and Solutions

CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Explain money measurement concept.

Asked by Topperlearning User 9th June 2016, 12:21 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

The extraordinary capabilities of the research department of the company lead to favorable result but the same was not recorded by the accountant. Why?

Asked by Topperlearning User 9th June 2016, 12:14 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

PQR company purchased machinery costing Rs. 200,000 which will last for 8 years. How much cost should the company treat as an expense?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Write short note on accounting period.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

A dispute between managers of different departments affected the profit of business. But this event was not recorded. Why?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Raj, the proprietor of Yashraj Company gifted his wife jewellery worth Rs. 1,50,000 from Swarn Jewellers and made the payment issuing a cheque from the account of Yashraj Company. His accountant debited the Drawing A/c. But Raj was of the opinion that Fixed Asset A/c should be debited. Is he right? Answer with reasons.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Seeta, the proprietor of Ram and Company purchased furniture for her home. She made the payment by issuing a cheque from the account of Ram and Company. Her accountant debited the Drawing A/c. But Seeta was of the opinion that Fixed Assets A/c should be debited. Is she right? Answer with reason.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

‘Business entity concept assumes that business is separate entity from its owner’ Do you agree? If yes, why?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What are three basic accounting assumptions? Elaborate.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What is accounting principle?

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