Download App

Theory Base of Accounting — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountTheory Base of Accounting1 Mark
Question
What are Assets?
✓

Answer

Asset is a property (land, machine, goods, premises, etc.) or legal rights (patents, copyrights, etc.) owned by an individual or business which can be measured in money terms.

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 Theory Base of Accounting→Theory Base of Accounting — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is meant by Analytical Petty Cash Book?
→
Briefly explain Intangible Assets.
→
What are the two accounting systems to record financial transactions in the books of account?
→
Give one limitation of Journal.
→
Do you think that a transaction can break the Accounting Equation?
→
What is the rule for Expenses Account?
→
No account is opened in the name of the Proprietor in the books of the firm. Give reason.
→
To record a purchase of an asset, why Asset Account is debited?
→
Define the following basic accounting term with example:
Profit.
→
What is meant by a rectifying entry?
→