Recording of Transactions - 1 — Account STD 11 Commerce — Question

What do you understand by Cash Basis of Accounting?

Meena is owner of a Restaurant. She paid son's fees from her personal bank account ₹`20,000. Whether this constitute her Business Transaction? Give reason.

What is a debit note?

An enterprise prepares its accounts under the accrual basis. Salaries arıounting to ₹ 10,000 for the month of March, 2019 were not paid. The owner did not want to account it in the books of account on the ground that the amount was not paid. The ente: prise closes its books of account on 31st March every year. Is he correct?

Give two examples of revenue expenditure.

When an asset is purchased in cash or an expense is incurred in cash, cash is credited. Why?

Give two advantages of sub-division of journal.

Name two items which are written in plus column while starting with Overcraft balance of Cash Book.

Is Journal a book of original entry?

What is money measurement Concept?