Download App

Meaning and Fundamentals of Double Entry Book-Keeping — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyMeaning and Fundamentals of Double Entry Book-Keeping1 Mark
Question
Give two examples of income and gains.
✓

Answer

Interest received, Discount earned, sales, etc. are examples of income and gains.

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 "Answer in One Sentence" from Meaning and Fundamentals of Double Entry Book-Keeping→Meaning and Fundamentals of Double Entry Book-Keeping — all question types→Book Keeping & Accountancy STD 11 Commerce / Arts question papers→Maharashtra Board STD 11 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

What is Depreciation?
→
What are closing entries?
→
Why depreciation is charged even in the year of loss?
→
State the meaning of ‘Contra entry’.
→
What is Cash Discount?
→
What is a Nominal Account?
→
What is a Statement of Affairs?
→
Which account is credited when depreciation is charged?
→
Find the odd one: Creditors, Bills Payable, Bank Overdraft, Stock in Trade.
→
State the meaning of Final Accounts.
→