Download App

Financial Statements - 1 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements - 11 Mark
Question
Give any two examples of Fictitious Assets.
✓

Answer

  1. Debit balance of Profit & Loss Account.
  2. Advertisement Expenses not yet written off.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Financial Statements - 1→Financial Statements - 1 — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

State the various essential features of an accounting report.
→
Is Bank Reconciliation Statement a part of Double Entry System?
→
From the following particulars, ascertain the value of Closing Stock :
 
₹
 
₹
Opening Stock
40,000
Sales
4,80,000
Purchase
2,50,000
Carriage Outward
4,000
Carriage Inwards
6,000
 
 
Wages
52,000
Rate of Gross Profit on sales
$33\frac{1}{3}\% $
→
What do you understand by Contingent Liability?
→
When assets are listed in order of liquidity in a Balance Sheet in which order the following shall appear?
  1. Land and Building.
  2. Cash in hand.
  3. Machinery.
  4. Bills Receivable.
→
What is meant by ‘Accounts from Incomplete Records'?
→
A Profit and Loss Account is a point statement whereas a Balance Sheet is a periodic statement Comment.
→
What is customised and tailor made computerised accounting system?
→
At the time of renewal of a bill, the Interest Account is debited in the books of the Drawee. Is this true or false?
→
What is meant by Depreciation?
→