| CLASS-11 ACCOUNTANCY |
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| NCERT 2025-26 Solutions |
1. Introduction of AccountingWHAT IS ACCOUNTING Accounting is a process of identifying the events of financial nature, recording them in journal, classifying in their respective ledgers, summarizing them in Profit and… 2.Theory base accountingAccounting Principal Accounting Principal are the rules adopted by accountants universally while recording accounting transaction. They are the norms or rules which are followed in accounting of various items of… 3.Recording of transactions-ISource Documents:- Source documents are the original records of business transactions. They are important because they prove, firs, that a transaction occurred, and they also serve as evidence of the… 4.Recording of transactions-IIShort Answer Answer:- Transaction are recorded directly from source documents in the Cash book, so there is no need to record transactions in the Journal book. Further, on the basis… 5.Bank reconciliation statementShort Answers Ans. The need to prepare Bank Reconciliation Statement are given below: 2. What is a bank overdraft? Ans. Bank overdraft is a liability to an account holder. When… 6.Trial balance and rectification of errorsShort Answer Solution:- Trial balance is a statement prepared to check the arithmetical accuracy of transactions recorded in the journal, posted into the ledger and balanced in the ledger accounts…. 7.Depreciation,provision and ReserveShort Answers Ans. Depreciation is the decrease in the value of fixed assets caused by wear and tear over time. These fixed assets could be anything from furniture to machinery… 8.Financial statements IShort Answers Ans. The following are the objectives of preparing financial statements: This is estimated by preparing Trading and Profit and Loss Account. b. To ascertain the true financial position… 9.Financial statements IIShort Answers Ans. It is extremely important to record the adjusting entries in the preparation of final accounts. The financial statements include only those entries which belong to the current… 10.Accounts from incomplete recordsShort Answer Ans. Incomplete records refer to a situation where a business’s financial transactions are not fully or systematically recorded according to the double-entry bookkeeping system. Instead of having both a debit… 11.Application of computer in accountingShort Answers Ans. The different elements of a computer system are explain below: Six type of software –Operating system, Utility programmers, Application software, Language processors, System software, connectivity software. c…. 12.Computerised Accounting SystemShort Answers Ans. The four basic requirements of a database application are: 2. Name the various categories of accounting package. Ans. The various categories of accounting package: 3. Give example… |