11th Accountancy Important VERY SHORT ANSWER - PUBLIC 2022
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1. Define accounting.
2. Who are the parties interested in accounting information?
3. Name any two bases of recording accounting information
4. Define book-keeping.
5. What is “Full Disclosure Principle” of accounting
6.What are source documents?
7. Write any one transaction which
a)
Decreases the assets and decreases the liabilities
b)
Increases one asset and decreases another asset
8. Give the golden rules of double entry accounting system.
1. What is a ledger?
9. What is debit balance?
10. What is trial balance?
11. Mention four types of subsidiary books
12. What is cash book
13. What is simple cash book?
14. What is bank reconciliation statement?
15. State any two causes of disagreement between the balance
as per bank column of
cashbook and
bank statement.
16. Write a note on suspense account.
17. What is meant by depreciation?
18.What is outstanding expense?
19.What is prepaid expense?
20. What is CAS?
21. Give any two examples of readymade software.
11th Accountancy Important SHORT ANSWER - PUBLIC 2022
1. Why are the following parties interested in accounting
information?
(a)
Investors (b) Government
2. “Only monetary transactions are recorded in accounting”.
Explain the statement
3. What is double entry system? State its advantages.
4. Distinguish between journal and ledger
5. What are the limitations of trial balance?2. Mention the
subsidiary books in which
the following transactions are recorded.
(i)
Sale of goods for cash
(ii)
Sale of goods on credit
(iii)
Purchases of goods on credit
(iv)
When the proprietor takes goods for personal use
(v)
Goods returned to suppliers for which cash is not received immediately
(vi)
Asset purchased as credit.
6. What are the causes for depreciation?
7. Distinguish between straight line method and written down
value method of
providingdepreciation.
8. Distinguish between capital expenditure and revenue
expenditure.
9. Distinguish between capital receipt and revenue receipt.
10. What are the various types of accounting software?
11. Mention any three limitations of computerised accounting
system
12. List out the various reports generated by computerised
accounting system.