Introduction to Accounting Two Marks Question

11th Standard

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Accountancy

Time : 00:45:00 Hrs
Total Marks : 30
    15 x 2 = 30
  1. Define accounting.

  2. What are the steps involved in the process of accounting?

  3. Name any two bases of recording accounting information.

  4. What is cost accounting?

  5. Who is a proprietor?

  6. What do you mean by accounting cycle?

  7. What do you mean by solvency and Insolvency

  8. Mr. Suresh, an electronic good dealer, gifted a microwave of value Rs 40,000 to his friend Roshan and recorded it in books as drawings. Is he correct?

  9. Do you think that financial accounting system is suitable for all business?

  10. What do you mean by legal evidence?

  11. What is invoice?

  12. What is goods?

  13. What is stock?

  14. What is asset?

  15. Define depreciation.

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