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CBSE Class 11-commerce Answered

How are the transactions recorded in the books of account?
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
answered-by-expert Expert Answer

The transactions are recorded in the books of accounts on cash basis and accrual basis of accounting.

Answered by | 09 Jun, 2016, 02:49: PM
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CBSE 11-commerce - Accountancy Part I
Which two systems of accounting can be followed by an enterprise?
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CBSE 11-commerce - Accountancy Part I
Which system of accounting cannot be followed by big business organisation?
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CBSE 11-commerce - Accountancy Part I
Explain the system of accounting which is based on dual aspect concept.
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CBSE 11-commerce - Accountancy Part I
Write a short note on single entry system of accounting.
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
How are the transactions recorded in the books of account?
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
Differentiate between cash basis of accounting and accrual basis of accounting.
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
What are accounting standards?
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
Explain IFRS? State its uses.
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
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.
Asked by Topperlearning User | 09 Jun, 2016, 12:49: PM
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CBSE 11-commerce - Accountancy Part I
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 | 09 Jun, 2016, 12:49: PM
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