Category: 11th Accounts

Class 11th Rectification of Error

  Accounting errors are the errors committed by persons responsible for recording and maintaining accounts of a business firm in the course of accounting process.   Errors can be in the form of omission of recording of transaction in various books or posting in ledger or mistake in totalling or recording wrong amount or in

Bill of exchange ,11th Class accounts

We know that now-a-days in business transactions on credit are on the rise. When goods are sold on credit a huge amount of capital is blocked. Then there is no certainity when the amount will be paid. A solution of the problem is giving this fact in writing in proper form so that the buyer

Final Accounts,class 11th

Financial statements are the statements that are prepared at the end of the accounting period, which is generally one year. These include Income Statement i.e. Trading and Profit & Loss Account and Position statement i.e. Balance Sheet Following are the objectives of preparing financial statements: – Ascertaining the results of business operations : Every businessman
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