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System Basis And Standard Of Accounting Free Doubts and Solutions

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

Write any three objectives of Accounting Standards. (AS)

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

Mr. Ram and Sons, a dealer in kitchen cookware products, has received an order for 15 Electric cookers along with an advance of Rs. 10,000. It maintains its accounts on accrual basis of accounting. Should, Rs. 10,000, the amount received be credited to the sales account or the advance received account? Justify.

Asked by Topperlearning User 9th June 2016, 12:49 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Dr. Bela Phadke, a Physiotherapist in practice is maintaining her books on cash basis. Her accountant advised her to follow accrual basis of accounting instead of cash basis. Do you agree with the advice given by the accountant? Give reasons.

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

Explain IFRS? State its uses.

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

What are accounting standards?

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

Differentiate between cash basis of accounting and accrual basis of accounting.

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

How are the transactions recorded in the books of account?

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

Write a short note on single entry system of accounting.

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

Explain the system of accounting which is based on dual aspect concept.

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

Which system of accounting cannot be followed by big business organisation?

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

Which two systems of accounting can be followed by an enterprise?

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