Books of Original Entry – Special Purpose Subsidiary Books — Account STD 11 Commerce — Question

Briefly explain the term 'Goods'.

Reliance co. did not use a particular machine during the current year. should depreciation be charged on this machine also?

What is matching concept?

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.

Give two objectives of preparing a Trial Balance.

What does credit in an Asset Account signify?

Which accounting principle states that all anticipated losses should be recorded but all anticipated profits should be ignored?

What are the factors involved in providing Depreciation?

Received a cheque from Maruti for ₹ 1,10,580 after deduction of 3% cash discount. The cheque was sent for collection and was dishonoured by the bank. How will you record the dishonour of cheque? Which values are not followed in this case?

Give two examples of Expense Account.