{"id":28145,"date":"2019-11-01T14:30:46","date_gmt":"2019-11-01T09:00:46","guid":{"rendered":"http:\/\/mycbseguide.com\/blog\/?p=28145"},"modified":"2019-11-04T15:40:09","modified_gmt":"2019-11-04T10:10:09","slug":"extra-questions-of-class-11-accountancy-introduction-to-accounting","status":"publish","type":"post","link":"https:\/\/mycbseguide.com\/blog\/extra-questions-of-class-11-accountancy-introduction-to-accounting\/","title":{"rendered":"Extra Questions of Class 11 Accountancy Introduction to Accounting"},"content":{"rendered":"
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Extra Questions of Class 11 Accountancy Introduction to Accounting. <\/strong>myCBSEguide has just released Chapter Wise Question Answers for class 11. Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. Accountancy describes the duties of an accountant, the person whose job is to keep, inspect and interpret financial accounts. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide<\/a>\u00a0<\/strong>website and mobile app. These Practice Question with solution are prepared by our team of expert teachers who are teaching grade in CBSE schools for years. There are around 4-5 set of solved Accountancy Extra questions from each and every chapter. The students will not miss any concept in these Chapter wise question that are specially designed to tackle Exam. We have taken care of every single concept given in CBSE Class 11 Accountancy <\/a><\/strong>syllabus and questions are framed as per the latest marking scheme and blue print issued by CBSE for class 11.<\/p>\n<\/div>\n<\/div>\n

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Class 11 Accountancy Extra Questions<\/strong><\/p>\n

Download as PDF<\/a><\/strong><\/p>\n

CBSE Class 11 Chapter 1 Accountancy Important Questions<\/h2>\n

Ch-1 Introduction to accounting<\/strong><\/p>\n

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  1. Confidence and trust that the reported information is a reasonable representation of the actual items and events, that have occurred, indicate which qualitative characteristic of accounting information.<\/li>\n
  2. State whether a large order of supply of goods received by the firm be recorded in books.<\/li>\n
  3. Appointment of a new managing director is not recorded in the books of accounts. Why?<\/li>\n
  4. What is a person to whom money is owed by a firm called?<\/li>\n
  5. Mr Raj, an electronic goods dealer, gifted a microwave of value Rs. 30,000 to his friend Rohan and recorded it in books as drawing. Is he correct?<\/li>\n
  6. Is accounting an art or a science?<\/li>\n
  7. Accounting information refers to financial statements. The information provided by these statements can be categorised into various types. Briefly describe them.<\/li>\n
  8. Distinguish between financial accounting, cost accounting, and management accounting.<\/li>\n
  9. Distinguish between book-keeping, accounting, and accountancy.<\/li>\n
  10. Basic objective of accounting is to provide useful information to various users. Besides these, there are many other objectives of accounting. Explain any four of them.<\/li>\n<\/ol>\n

    Ch-1 Introduction to accounting<\/strong><\/p>\n

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    Answer<\/strong><\/p>\n

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    1. It indicates the qualitative characteristics of reliability.<\/li>\n
    2. No,\u00a0it is not a transaction.<\/li>\n
    3. it cannot be recorded because it is impossible to measure it in monetary terms.<\/li>\n
    4. The person to whom the firm owes money is called ‘Creditor’.<\/li>\n
    5. Yes, Mr Raj\u00a0is correct\u00a0because personal expenses are treated as drawings and it will be recorded in the books.<\/li>\n
    6. Accounting is both an art as well as a science. It can be seen in the following points :\n