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CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : The Central Board of Secondary Education (abbreviated as CBSE) is a Board of Education for public and private schools, under the Union Government of India. Central Board of Secondary Education (CBSE) has asked all schools affiliated to follow only NCERT curriculum. CBSE conducts the final examinations for Class 10 and Class 12 every year in the month of March. The results are announced by the end of May. The board earlier conducted the AIEEE Examination for admission to undergraduate courses in engineering and architecture in colleges across India. However the AIEEE exam was merged with the IIT-Joint Entrance Exam (JEE) in 2013. The common examination is now called JEE(Main).

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : Here we provides complete details about CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams and other CBSE Class 12 Commerce Accountancy important notes in pdf format. Here we provide direct download links for CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams notes in pdf format. Download these CBSE Class 11 Commerce Accountancy NCERT Solutions in pdf format and read well.

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

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CBSE Class 11 Commerce Accountancy NCERT Solutions : Accountancy is the process of managing the income and expenses of a business . It refers to the process of measuring, summarizing, and communicating the financial information produced by bookkeeping to classify and explain account information to relevant parties such as shareholders and managers. The use of this information also makes it possible to forecast future financial developments, analyse different areas of the business and evaluate business potential.

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : NCERT Solutions for Class 11 Accountancy

class 11 commerce ncert solutions:-Accountancy : Financial Accounting Part-1

Q1 :  Define accounting.

Answer :Accounting is a process of identifying the events of financial nature, recording them in Journal, classifying in their respective ledgers, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information, viz. owner/s, government, creditors, investors etc.

According to the American Institute of Certified Accountants, 1941, “Accounting is an art of recording, classifying and summarising in a significant manner and in terms of money transactions and events that are, in part at least, of a financial character and interpreting the results thereof.”

Q2 :  State what is end product of financial accounting?

Answer :

class 11 commerce ncert solutions

class 11 commerce ncert solutions

  1. Income statements (Trading and/or Profit and Loss Account)- An income statement that includes Trading and Profit and Loss Account, ascertains the financial results of a business in terms of gross (or net) profit or loss.
  1. Balance Sheet- It depicts the true financial positions of a business that provides required information like assets and liabilities of a business firm, to the users of accounting information like owners, creditors, investors, government, etc.

Q3 :  Why is it necessary for accountants to assume that business entity will remain a going concern?

Answer : Going Concern Concept assumes that the business entity will continue its operation for an indefinite period of time. It is necessary to assume so, as it helps to bifurcate revenue expenditure (i.e. expenditure related to current year), and capital expenditure (i.e. expenditure whose benefits accrue over a period of time). For example, a machinery that costs Rs 1,00,000, having an expected life of 10 years, will be treated as a capital expenditure, as its benefit can be availed for more than one year; whereas, the per year depreciation of the machinery, say Rs 10,000, will be regarded as a revenue expenditure.

Q4 :  When should revenue be recognised? Are there exceptions to the general rule?

Answer : Revenue should be recognised when sales take place either in cash or credit and/or right to receive income from any source is established. Revenue is not recognised, in case, if the income or payment is received in advance or the payment is actually received from the debtors. In a nutshell, revenue will be recognised when the right to receive income is established. For example, Mr. A sold goods in January and received payment in February; then revenue is considered to be recognised in the month of January and not in February. However, if Mr A received cash in advance, i.e. in December and goods are sold in January, then the revenue is recognised in January and not in December.

The exceptions to this rule are given below.

1) Hire purchase- When goods are sold on hire-purchase system , the amount received in instalments is treated as revenue.

2) Long term construction contract- The long term projects like construction of dams, highways, etc. have long gestation period. Income is recognised on proportionate basis of work certified and not on the completion of contract.

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : Every student know that Best Faculty For CBSE Class 11 Commerce Accountancy   is  Personally Recommended this Faculty CBSE Class 11 Commerce Accountancy . If You want to study in detail of CBSE Class 11 Commerce Accountancy  than is the best faculties names are given here :

CBSE Class 11 Commerce Accountancy Best Faculty
D.K. Goel (Author), Rajesh Goel (Author), Shelly Goel
Rajesh Goel (Author), Shelly Goel (Author), D.K. Goel (Author)
Banerjee B.K (Author)
Rajesh Goel (Author), Shelly Goel (Author), D.K. Goel (Author)
Panel of Experts (Author)
A. S. Siddiqui S. A. Siddiqui (Author)
NCERT (Author)

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : ULTIMATE BOOK OF ACCOUNTANCY is the best accountancy book in India for class 12th and class 11th CBSE. This book is strongly recommended by the Experts, Teachers, Chartered Accountants and Tutors. This Book covers CBSE Board Paper, Most of the questions in CBSE are coming from this book (Directly or Indirectly).

Students can score 100% Marks in Board Exam easily by using this beautiful book. This book is based on highly researched material and treatment of each and every item is explained beautifully step by step.This book is based on the Highly Researched Material and contains hidden secrets of accounting with clear approach. Accountancy book for class 12 and Accountancy book for class 11 is best in India.

The Students Of CBSE Class 11 Commerce Accountancy Best Books

CBSE Class 11 Commerce Accountancy Best Books : Accounting is a very vast and deep subject. However, the basic foundations of accounting are simple and easy to learn.

Here are the various branches of accounting Branches / Types of Accounting – Accounting Verse with 3 main branches being – Financial Accounting, Management Accounting and Cost Accounting.

I second   answer on the basic knowledge that lay the right foundation for you to take large strides later which I repeat:

  • Accounting Equation
  • GAAP or IFRS principle
  • Double Entry (The 3 golden rules of debit and credit)
  • General Ledger
  • Financial Statements
  • Cash Flow
  • Ratio Analysis

So how do you get started?

ONLINE:

  • Coursera: A good course on basics of financial accounting by University of Pennsylvania – Introduction to Financial Accounting – University of Pennsylvania | Coursera
  • Simple Studies: Another great website where you can learn accounting for free is Simple Studies, which focuses on all the aspects of bookkeeping. It offers tutorials and articles, as well as a dictionary for complex terms. Accounting tutorials, lectures, exam and test questions, articles, dictionary: Smart accounting course
  • Accounting Coach: Accounting Coach is the best website for both students and professionals, as it offers more than 1,000 lectures on the concepts of accounting.Don’t miss out on checking this one out at Learn Accounting Online and buy it. 
CBSE Class 11 Commerce Accountancy Best Books CBSE Class 11 Commerce Accountancy Best Faculty

Accountancy Class-XI Paperback – 2017

D.K. Goel (Author), Rajesh Goel (Author), Shelly Goel

Problems & Solutions in Accountancy Class – XI Paperback – 2017

Rajesh Goel (Author), Shelly Goel (Author), D.K. Goel (Author)

Accountancy: For Class XI Paperback – 2010

Banerjee B.K (Author)

New I.S.C. Accountancy Class- XI Paperback – 2017

Rajesh Goel (Author), Shelly Goel (Author), D.K. Goel (Author)

Oswaal CBSE Chapterwise/Topicwise Question Bank for Class 11 Accountancy (March 2018 Exams) Paperback – 2017

Panel of Experts (Author)

Comprehensive Accountancy XI (Part A & B) Paperback – 2016

A. S. Siddiqui S. A. Siddiqui (Author)

Accountancy Financial Accounting Part – 2 for Class – 11 Paperback – 2015

NCERT (Author)

The Students Of CBSE Class 11 Commerce Accountancy Best Video Classes

CBSE Class 11 Commerce Accountancy Best Video Classes  CBSE Class 11 Commerce Accountancy Best Faculty names 

11th Accounts Full Course Cum CPT 

Mansi Jain and M K jain

Basics of Accounting upto PL and BS

M K jain

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : Download CBSE Class 11 Commerce Accountancy Question Bank in pdf format here. CBSE Question Bank  for Accountancy  Class 11 is designed by CBSE Expert Teachers of Various schools follows NCERT / Central Board of Secondary Education syllabus, For Students of India & abroad these Question Bank are freely available in our website. Download your desired CBSE Commerce Accountancy Question Bank  for Class XI and give your feedback.

CBSE Class 11 Commerce Accountancy Question Bank 1

CBSE Class 11 Commerce Accountancy Question Bank 2

CBSE Class 11 Commerce Accountancy Question Bank 3

CBSE Class 11 Commerce Accountancy Question Bank 4

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

Important Note – Preparing for XI & XII Commerce?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

CBSE Class 11 Commerce Accountancy NCERT Solutions : CBSE Mock Test Papers  for Accountancy Class 11 is designed by CBSE Expert Teachers of Various schools follows NCERT / Central Board of Secondary Education syllabus, For Students of India & abroad these papers are freely available in our website. Download your desired CBSE Accountancy Mock Test Papers  for Class XI and give your feedback.

BSE Class 11 Commerce Accountancy Mock Test Papers 1

BSE Class 11 Commerce Accountancy Mock Test Papers 2

BSE Class 11 Commerce Accountancy Mock Test Papers 3

BSE Class 11 Commerce Accountancy Mock Test Papers 4

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

CBSE Class 11 Commerce Accountancy NCERT Solutions : Accountants can fulfill this role too, but more often these days are involved in preparing and presenting financial statements, and fulfilling an advisory or consulting role. Accountants have even become business strategists, intimately involved in guiding the operations of a business.

Okay, so now that you can define accounting and related terms, it’s time to learn about the famous, or infamous basic accounting equation, the single most important equation in accounting, the foundation on which everything else rests.

CBSE Class 11 Commerce Accountancy Suggested Study Plan Helps For 2017 Exam

CBSE Class 11 Commerce Accountancy Suggested Study Plan : The Accountancy paper is one of the main subjects of the Commerce stream students and is also a very scoring subject, provided the concepts are clear and the formulas remembered by heart.

Accountancy is known as the language of finance and is one of the foundations of any business. It is required by all businesses in order to function smoothly. To understand finance, Accountancy is necessary for all the students of Commerce stream.

To pass the Accountancy Class 11 exam with flying colors, listed below are 15 quick tips:

1. Read the question properly, at least twice, before answering.

2. Underline the important points of the question which will be useful in solving the question.

3. Try to solve financial statement analysis at the end of the all questions, because it contains a lot of calculation.

4. In case of questions related to shares, if applied shares are given of share holder, then after finding allotted shares, the candidates can simply cut down the applied shares from the question paper, so that they can consider only allotted shares while solving the questions.

5. While preparing cash book in shares, try to pass all the entries of bank in rough so that there is no confusion.

6. While preparing the profit and loss appropriation account, the profit should always be before any appropriation. Also, the candidates should be aware about the balances of capital of partners; it should complete the entire 12 months, otherwise month consideration will be there for any appropriation

7. If candidates are not able to reach the answer of a question, they should move on to other questions and return to the former later.

8. In case of redemption of debentures, the candidates should always try to find out which method of redemption is given in the question.

9. Always keep some time for revision while adjusting time.

10. Do not leave out any question.

11. Answer those questions first which you know very well.

12. Attempt ‘HOTS’ questions at the end. Read summaries given at the end of each chapter to get a comprehensive idea about the given chapter.

13. HOTS can be given from summaries also.

14. Refer to the latest CBSE sample question papers, along with previous year board question papers.

15. Refer to ‘TOPPERS’ answer sheets available on the CBSE website.

CBSE Class 11 Commerce Accountancy NCERT Solutions For 2017 Exams

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Important Note – Preparing for XI & XII Commerce?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
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