Ask a Doubt
Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 11-commerce Answered

What is accounting principle?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
answered-by-expert Expert Answer

Accounting principles are the rules of action followed by accountants universally to record accounting transactions. They are set of rules which are followed for providing accounting treatment to various items of assets, liabilities, incomes and expenses.

Answered by | 09 Jun, 2016, 02:14: PM
Multiple Choice Questions Practice Test
Answered Unanswered My Questions My Answers
CBSE 11-commerce - Accountancy Part I
What is accounting principle?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
What are three basic accounting assumptions? Elaborate.
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
‘Business entity concept assumes that business is separate entity from its owner’ Do you agree? If yes, why?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
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.
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
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.
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Explain money measurement concept.
Asked by Topperlearning User | 09 Jun, 2016, 12:21: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
A dispute between managers of different departments affected the profit of business. But this event was not recorded. Why?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Write short note on accounting period.
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
PQR company purchased machinery costing Rs. 200,000 which will last for 8 years. How much cost should the company treat as an expense?
Asked by Topperlearning User | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
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 | 09 Jun, 2016, 12:14: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
My Class Videos Tests ₹ Plans Ask a Doubt
Get Latest Study Material for Academic year 24-25 Click here
×