Class11 Accountancy Model Question With Solution

Class11 Accountancy Model Question With Solution  

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• Grade 11 Accountancy Model Question= Click Here

 

• Solution of Model Question of Grade 11 Accounting= Click Here

 

FINAL EXAM 

 

 GRADE XI
Accounting

Model questions                                      Sub.Code :1031

(Very Short Answer Questions)

. (Attempt All Questions) 11x1=11

1. What is book-keeping?

Ans: The act of keeping written record of financial transactions of a business in a set of

books is called bookkeeping.

2. Mention any two objectives of accounting.

Ans: The two objectives of accounting are:

a) To maintain record

b) To ascertain profit or loss.

3. Write the meaning of money measurement concept.

Ans: Accounting records only those facts and transactions that can be expressed in terms

of money. This concept of business us known as money measurement concept.

4. Define trial balance.

Ans: Trial balance is the list of debit and credit balances taken out from ledger.

5. What is cross cheque?

Ans: A crossed cheque is a special type of cheque which is written by following some

special instruction of crossing.

6. Write about error of principle.

Ans: The error that takes place due to ignorance of accounting principles is called error

of principle.

7. What is reserve?

Ans: A part of profit set aside to meet future contingencies and losses is called reserve.