Theory Base of Accounting — Account STD 11 Commerce — Question

Asha drew a bill on Vipasa. Vipasa accepts the same. Can Vipasa endorse the bill to Sangeeta?

Name the category of account that is not balanced.

Name two types of Petty Cash Book.

“In case of a long term asset, repair and maintenance expenses are expected to rise in later years than in earlier year”. Which method is suitable for charging depreciation if the managernent does not want to increase burden on Profit & Loss Account on account of depreciation and repair.

Write two objectives of providing depreciation.

If total assets of a business are ₹ 1,30,000 and capital is ₹ 80,000, calculate creditors.

Why is the Ledger called the book of Final entry?

State any one advantage of maintaining the Petty Cash Book.

What is date of maturity of a bill of exchange?

Why closing stock is valued at cost price or realisable value whichever is less?