CBSE - Class 11 Accountancy Introduction to Accounting Worksheet
Test Your Understanding - I
1.
Complete the following sentences with appropriate words: Identified and measured economic events should be recording in ............ order.
2.
Complete the following sentences with appropriate words: A ..................... would most likely use an entities financial report to determine whether or not the business entity is eligible for a loan.
3.
Complete the following sentences with appropriate words: The Internet has assisted in decreasing the ..................... in issuing financial reports to users.
4.
Complete the following sentences with appropriate words: Information in financial reports is based on .....................
5.
Complete the following sentences with appropriate words: Internal users are the ..................... of the business entity.
6.
Complete the following sentences with appropriate words: The process of accounting starts with ............ and ends with ............
7.
Complete the following sentences with appropriate words: ..................... users are groups outside the business entity, who uses the information to make decisions about the business entity.
8.
Complete the following sentences with appropriate words: Accounting measures the business transactions in terms of ............ units.
9.
Complete the following sentences with appropriate words: Information is said to be relevent if it is ......................
