About NCERT Solutions for Class 11 Accountancy
NCERT Solutions for Class 11 Accountancy is prepared by the expert teachers of Home-tution.com and explained all the questions asked in the NCERT textbook for class 11. Our experts uploaded solutions to the questions asked in the NCERT class 11 exercise. This page consists of chapter-wise NCERT solutions for Class 11 Accountancy as per the CBSE recommendation.
Chapter Wise NCERT solutions for Class 11 Accountancy
If you want to score good marks in a subject like Accountancy, you must follow a few tips. Accountancy needs good conceptual clarity and a foundation of the theory. Read the theory given in the NCERT textbook and make a note of all important points mentioned in the textbook. Start reading the theory given in the textbook before your school or tuition class and make sure you have noted down all important points. While attending the class ask all your doubts to the teacher and make your notes. Solve the questions asked in the NCERT textbook exercise with the help of NCERT solutions for Class 11 Accountancy prepared by HT experts.
While using NCERT solutions for Class 11 Accountancy uploaded on this page make sure you are not copying the solutions, these solutions are uploaded for reference purposes only.
How to score good marks in class 11 Accountancy by using NCERT textbooks
NCERT textbook is wildly used in all CBSE board exam and they consist of fundamental concept which is easy to understand. NCERT textbook explains the concepts by using the solved example and lots of practice questions help the student to boost their preparation, if you are preparing for competitive exams like CA/ CS or CUET NCERT textbook for class 11 accountancy will help you to score good marks in the competitive exam apart from your school exams.
To score good marks in class 11 Accountancy, you need to plan very well. Start with concept building which needs a good textbook for theory and a good class teacher. Read the theory written in the NCERT textbook and make your notes. While making the notes for class 11 Accountancy make sure you are writing all the important formulas and points mentioned in the NCERT textbook. Solve the questions asked in the NCERT exercise and start to form the first question and try to solve the questions by yourself if you face any difficulty then only refer to the NCERT Solutions for class 11 Accountancy prepared by the HT experts. The NCERT solutions for class 11 Accountancy prepared by the experts explain the questions step by step to give you a more in-depth understanding of the concept.
The objectives of Accounting
Objectives or functions of accounting are as follows:
1. Maintenance of Business Records-
2. Business involves numerous transactions, which cannot be remembered orally.
3. This objective of accounting is to keep a systematic record of financial business transactions.
4. Calculations of Profit or Loss-
5. Another objective of accounting is to as certain the profit earned or loss incurred by a business during an accounting period.
6. It is done by preparing Trading and Profit & Loss A/c’ Depiction of Financial Position
7. For this purpose a statement called ‘Balance shut’ is prepared at the end of every accounting period.
8. It shows a proper record of the assets and liabilities of a business on a particular date and helps in judging the financial positions.
9. Providing Accounting Information to its Users
10. Accounting also has the objective of providing relevant information to its users in time.
This helps the users in taking the right decisions.
CBSE Class 11 Accountancy Academic Resources 2023-24
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Frequently Asked Questions on About NCERT Solutions for Class 11 Accountancy
. Define Accounting.
Accounting can be defined as the process of identifying weathering, recording and communicating the required information relating to the economic events of an organization to the interested users of such information.
. What is meant by Accountancy?
Accountancy refers to a systematic knowledge of accounting. It explains how to deal with various aspects of accounting. It tells how and why to maintain books of accounts, how to summarize accounting information and how to communicate it to the various users.
. What are the chapters in Class 11 Accountancy?
There are 15 Chapters of class 11 Accountancy named as Chapter 1 - Introduction to Accounting, Chapter 2 - Theory Base of Accounting, Chapter 3 - Recording of Transactions 1, Chapter 4 - Recording of Transactions 2, Chapter 5 - Bank Reconciliation Statement, Chapter 6 - Trial Balance and Rectification of Errors, Chapter 7 - Depreciation, Provisions & Reserves, Chapter 8 - Bill of Exchange, Chapter 9 - Financial Statements – 1, Chapter 10 - Financial Statements – 2, Chapter 11 - Accounts from Incomplete Records, Chapter 12 - Applications of Computers in Accounting, Chapter 13 - Computerised Accounting System, Chapter 14 - Structuring Database for Accounting, Chapter 15 - Accounting System Using Database Management System.