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What is an Accounting Formula?

Accountancy is referred to as the process of recording financial transactions that take place in a business. The Accounting process involves summarising, reporting and analysing the information to be used by various users of Accounting information. Following are some of the Accounting multiple choice questions and answers that will help the students in brushing up …

What is an Accounting Formula? The accounting equation or formula is contemplated to be the basis of the double-entry accounting method. The entirety of all the assets or belongings of a firm must be equivalent to the sum of all its records in the B/S. Based on this double-entry method, the accounting formula guarantees that …

Share Capital A company, being an artificial person, cannot generate its own capital which has necessarily to be collected from several persons. These persons are known as shareholders and the amount contributed by them is called share capital. Let us now understand each concept of Accounting For Share Capital in detail: Features of a Company …

Basic Concepts of Accounting for Partnership Business can be organised into different forms like sole proprietorship, partnership firm or a company. Every form of business has its own share of limitations. As a business expands, there is a requirement of capital and more risk is involved. Partnership is based on mutual agreement and in a partnership, …

Accounting for Not-for-Profit Organisation Not-for-Profit Organisations are the establishments that are for utilised for the welfare of the community and are set up as charitable associations which operate without any motive for profit. Their primary objective is to provide service to a specific class or the public. Usually, they do not produce, buy or sell …

CBSE Class 12 Accountancy is a subject with the financial dealings and financial records of an establishment in a systematic manner. The Accountancy syllabus has been outlined by the CBSE in an appropriate way to facilitate the change (transition) for the students from school to college or higher education. The question papers outlined for Class …

Introduction Following are the economics abbreviations which are used in Class 12th Economics syllabus frequently. ● Students are advised to learn the full form of each and every abbreviation e.g. Lot of students ask for the full form of GDP which is Gross Domestic Product and which is shown in the following list. ● The special …

(1) READ QUESTION PAPER (i) Use the first 15 minutes to read the question paper It is great that students get 15 minutes to read, analyze and understand the question For Accounting question paper, it is the best way to start the exam. Reading the question paper will give you an idea about how to …

Limitations of Financial Statements: The limitations of financial statements are such aspects that a user must be well aware of, before depending upon them to an enormous amount. Knowledge of these aspects can result in a devaluation of invested capital in a trading concern or actions taken to analyse further. The following are the limitations …

Financial analysis is comprehensively beneficial in ascertaining the financial weaknesses and strengths of an enterprise, it is grounded on the data that is obtainable in financial statements. The financial analysis also goes through several limitations of financial statements. Therefore, the analyst must be aware of the effect of the cost price level changes, changes in accounting …